Rothschild - I would guess that SP spot index 1320 area could be where the reversal starts. We ...
snowrider 发表于 2012-1-1 23:00
So you see that 1320 did not show any sign of climax or exhaustion ... and I have been updating the wave count every weekend. Now here is just my guess that a big correction is going to start this week.
for gold, you're saying we're in a triangle, with the E wave having started lower. However, the triangle connecting ABCDE you show is neither descending, ascending, or symmetrical. Am I missing something?
nim1984 - Thanks for commenting. The wave-E scenario was based on the assumption that wave-D must be in a 3-segment movement. Today's price action shows that the purple line scenario is more possible because our previous wave-D has become a 5-segment wave which means that it is not a wave-D any longer. Talking about a triangle, it does not need to be perfectly descending, ascending, nor symmetrical, as long as it is a triangle. Hope this help.
Not a bull, not a bear, I am just a wolf ... 偶還是習慣稱行情漲為紅盤跌為慘綠
nice count . hopefully this 5th wave doesnt extend.
looks like a possible exhaustion gap yesterday on hi vol too [/B]
jas_in_hbca - Thanks! Yes some people are saying that the release day of iPad3 is the reversal day of AAPL. Now the wave count for SP is taking the grey line scenario, which it has almost finished the 5-5-5 ... wave. I am thinking that either tomorrow or next Wednesday the key reversal could occur.
Not a bull, not a bear, I am just a wolf ... 偶還是習慣稱行情漲為紅盤跌為慘綠
[quote=2+2=4ex;5482130]Well done on SP 1400. I do not expect it to hold for now either, but do you really believe it will drop below 1300? Not saying I don't think it will or not, just curious about your opinion.[/quote]
4ex - Thanks for commenting. As you know that my prediction is all based on EW theory, sometimes people don't believe something would happen and I don't believe either. If the current wave is really wave-[[B]]-[C]-V-5 (most likely ending today or maybe next wednesday with extension), then next leg could go all the way down to 1280 area. Let's see how the market acts. :)
Not a bull, not a bear, I am just a wolf ... 偶還是習慣稱行情漲為紅盤跌為慘綠