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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Friday, October 21, 2011

Best Interpretation of THE CHARTS

Researching charts a little tonight showed me the SP-500 will most likely gap up on Monday morning and reach the 1263 level by Monday or Tuesday followed by a shallow, delayed selloff and then resuming the trend upward for WED/THURS. My preffered count follows:

The line labeled VERY IMPORTANT is because it satisfies 2 different EW counts. If my green 4 was labeled A and the low at 1074 labeled B, C=1.618A near that trendline. That trendline is also where C=.618A for the count on the chart. That line is VERY IMPORTANT TO ME! Good luck to everyone.

I also have a very BULLISH count going but the technicals behind it remain to be seen at this point so I'm not going to post it. IF 1280-90 gets taken out I would assume we are in a new bull trend to new all-time highs for SP-500 and DJIA...Nasdaq and Rut have different counts.

2 comments:

  1. Hey Geno,
    When are you going to do an update?
    I am keen to see what else you have to say...

    So if you get a chance it would be appreciated.

    TIA

    ReplyDelete
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