N Rothschild
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very berish at the moment my friend, i doubt we will see 950. the action this week says it all...i think any sort of rally has died a death
hwsteele
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You could be very right! One thing is for almost sure Monday will be a big day up or down. Could be 920 or could be 868? Time will tell.
hwsteele
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Well turned out to be the 868 number and then some. Made it all the way down to almost 857 before it started back up to end the day at 871.
That makes Friday a small pivot also. Now we just have to wait and see if the market turns up Tuesday (12-22-08). If so that would make all three pivots correct. The primary price target of 868 was met today so I believe it could head up. If not then we might see as low as 825-830.
The day after Christmas still looks good for a pivot.
That makes Friday a small pivot also. Now we just have to wait and see if the market turns up Tuesday (12-22-08). If so that would make all three pivots correct. The primary price target of 868 was met today so I believe it could head up. If not then we might see as low as 825-830.
The day after Christmas still looks good for a pivot.
Silversea
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The next turn will be on Wed Jan 14- Retail Sales is already priced in the market , when it comes out it will rally.
hwsteele
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Interesting
From my calculations we could see the market head to 850 and then maybe 830 before a big rally. I believe we will still make it to 1030 or so longer term.
Then again I could be all wrong.
I see the market turning on the 13th and the 16th.
Remember that doesn't mean other turns won't show up, it's just what my calculations say.
14th could happen too!
hwsteele
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Well we have met both of the price targets and then a little. Also we did have a slight reaction/pullback on the 13th like I had calculated. Nothing happened on the 14th like our friend from above indicated would(better luck next time).
I do believe tomorrow will be an up day.
Now here is the "bad news":
Because the price broke down a little more than I thought it would, under 820, I am now of the opinion that price will retrace back up to the 850-880 area and then back down to 770-730. So basically we will retest the current main low that was made at about 741.
If we only go down to the 760 to 770 area I believe we will make it back to 950 or a little above in then next month or so.(after the low is made)
If we make a new low then we will start a new leg up in a big up trend.( most likely the biggest one of this bear market.) Which means we would most likely see NEW lows again later in the year.
All just IMHO.:cheesy:
hwsteele
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The market did not seem happy today. It went down allot.
So that means the market made its top at about 858 before it takes its plunge down.
We could see new lows as I have between 720 and 780 as the downside targets.
I think we may see the new low but I could be wrong.
January 16th was a nice pivot high. So that turn date made good also.
The next two that I have calculated are January 20th and 23rd.
Once we make the next big low, what ever it may be price wise, I believe we will be going up for a while after that.
So that means the market made its top at about 858 before it takes its plunge down.
We could see new lows as I have between 720 and 780 as the downside targets.
I think we may see the new low but I could be wrong.
January 16th was a nice pivot high. So that turn date made good also.
The next two that I have calculated are January 20th and 23rd.
Once we make the next big low, what ever it may be price wise, I believe we will be going up for a while after that.
looks like your 23rd date is going to be a high from here,this is whipsaw city i take my hat off to anyone not getting caught out by some of this action.very confusing/frustrating,which is exactly what precedes a big move in these circumstances.monday or tuesday should be a short term low at least.so selling a good resistance level today might be a good plan.
