tag:blogger.com,1999:blog-4878316162397365683.post3948607451912899529..comments2023-11-06T06:01:49.605-05:00Comments on Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals: Rally is StrongUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4878316162397365683.post-38221216573429588142010-07-13T16:57:56.301-04:002010-07-13T16:57:56.301-04:00If you have a chart with your wave count that woul...If you have a chart with your wave count that would support a rally to 1175 can you email it to me? <br /><br />Todd<br />toddsblog@comcast.netToddhttps://www.blogger.com/profile/13808483934573587351noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-36299010418528886472010-07-13T16:56:45.366-04:002010-07-13T16:56:45.366-04:00Hey Rob,
Thanks for posting that info since I hav...Hey Rob,<br /><br />Thanks for posting that info since I have not been following those trendlines much. We'll see the behavior in tomorrow and Thursday. The correction is quite deep and strong indeed. Very concerning. <br /><br />ToddToddhttps://www.blogger.com/profile/13808483934573587351noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-45107686235758009862010-07-13T16:25:40.554-04:002010-07-13T16:25:40.554-04:00We are still in 3rd wave a 1108 of C.
P&F -1...We are still in 3rd wave a 1108 of C.<br /><br />P&F -1108 overhead.<br /><br />1175 if we break 1108.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-16308146973790943492010-07-13T16:25:40.553-04:002010-07-13T16:25:40.553-04:00From an Elliott wave perspective, I feel that the ...From an Elliott wave perspective, I feel that the retrace (if that's indeed what this is) from 1011 is getting too deep for comfort.<br /><br />However, what is making me hold on to my puts a little bit longer is that the tape is running up against several clusters of what should be formidable resistance.<br /><br />For one, we are testing the underside of the trendline that connects the 666 low to the most recent of the 1040 lows. Since May, it seems like each big rally has tested (ultimately failing) the underside of the trendline connecting 666 to the second-to-last intermediate low (ie, the low which the latest intermediate low had broken). <br /><br />For another, we are testing the underside of the trendline that connects the intermediate highs from early in Primary Wave 1 (2007/2008) and also runs through the Jan 2010 top at SPX 1150.<br /><br />Plus we have the 50 and 200 daily moving averages nearby by as overhead resistance. The few points that the S&P and DOW retreated into the close was not much in absolute terms, but it did allow them to close just below the DMA's that they had pierced through intraday.<br /><br />All of that said, I definitely agree with you Todd that if we don't turn down sharply very soon it's bad news for the bears.Robnoreply@blogger.com