End Game
New Moon highs from yesterday into potentially October 7.
Final Hurst 80 week low and 9 year low likely due October 27 to November 9 +/-
Final Hurst 80 week low and 9 year low likely due October 27 to November 9 +/-
posted by chartblog at
3:46 PM
8 Comments:
Hello,
I'm from Japan and reached your site by hitting " Elliott Bull".....
I think Aug 9 & Sep 22 bottom in Dow is very strong support, and would like to share a chart with you. So If you could tell me your email address I will send it.
Thank you,
NN.
On Monday we showed you why blatant wave patterns on four different time frames pointed lower.
On Tuesday, price showed you why this remains a frustrating and indecisive marketplace. Instead of
taking the opportunity to continue south, the indices again decided to rally to stay in the violent but
eastbound seven week range its been in since August. This marks the ninth huge swing in the past
seven weeks, and it’s making for an incredibly exhausting process as we debate the possiblity of
truncations here and deep retracements there. This is a really tough pattern no matter how you slice it.
Every single move has possessed impulsive attributes at some point in its progression, but it never
lasts for long. All we can do is be aware of how this is going to resolve (once it finally does) by
understanding all possible labelings. That’s the game plan again tonight. We’ll look at every single
labeling that needs to be considered after this latest swing. We’ll again come to the conclusion that this
market is headed lower because that’s the only sensible resolution. In the meantime, we have to go
neutral on our near-term stance because these swings are just too much to sit through. On any larger
time frame, we remain bearish because the pattern on any larger time frame remains bearish.
Hi NN,
Do you have a link to your chart?
The free mediafire (dot) com is good for uploading files.
Yes wavespeaktalk, things definitely in a flat trading range bottoming pattern. Cycles look incredibly bullish for early next year so any downdraft into late October should get quickly and bullishly retraced.
Off the May highs SPX is making 3 pushes and we are now in the end game 3rd push.
Since we are approaching strong November through January seasonality....this 3rd push attempt could also easily fail.
Thats why the shaded green area on todays chart is very wide.
Its now a time game.
If the bears want to push this thing down to SPX 1075 or 1050 into the 80 week lows, I'll be there with a barrel to fire some dry powder at those low prices.
This End game may be complex and volatile with 300 point swings, why its best to look at the larger bullish macro picture and scale into longs not worrying a whole lot about these volatile daily pivots.
While the daytraders get whipsawed and ramshackled, those with a longer term bullish horizon should do very well.
-Dave
Dave,
Here is the link.
http://stockcharts.com/h-sc/ui?s=$INDU&p=M&st=1970-01-01&en=(today)&id=p82032982877&a=244842548
Dow's ratio analysis based on 1987 Black Monday. 2011 May High and Aug & Sep Low are tightly bounded... Especially they share an origin 1987 Low (O1/B) and a pivot 2002 Low (F) with golden differnt golden ratio.
Thank you,
NN.
Thank you NN,
Appreciate your views. I tend to agree, 9/24 is a very strong Elliott/Ermanometry cycle date and and 31 days from the August low.
After Black Monday 1987 the markets made a very similar retest the same 31 trading days later.
Lots of fear out there waiting for the next shoe to drop that may never drop. :)
Late October is only wildcard to me.
Dave,
Woo.. nice reversal happening now.
Nikkei is also ready to bound. I will update you if you are interested in!
NN.
Dave,
Uploaded the chart to MediaFire.
thanks,
NN
http://www.mediafire.com/i/?5wizb9a2gk76wp4
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