tag:blogger.com,1999:blog-4878316162397365683.post8641979996538247483..comments2023-11-06T06:01:49.605-05:00Comments on Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals: Stocks Drop in ((b)) Wave Only; Euro ToppedUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4878316162397365683.post-78051696741330880242012-06-19T11:08:47.807-04:002012-06-19T11:08:47.807-04:00Here we go again, everybody is happy, the world is...Here we go again, everybody is happy, the world is saved, all the underlying problems in Europe and US have been "fixed" with the promise of stimulus. We just crossed DOW 12,850, a point where I as dangerous to be long. Why would the Fed inact any kind of stimulus with all indicies UP for the year? When they did QE1 and 2, markets were heavily sold off. This is not the case today. Is the Street so piggish, it demands stimulus for the purpose of making new highs rather than a backstop to a crisis? I'm looking for a triple digit selloff after Bernanke speaks on Wednesday. We are very overbought, and based on world economic problems, DOW 12,100 isn't outlandish to visit fairly soon. What does your EW model tell you?Vinnie StJohnnoreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-1115464231247456002012-06-12T10:40:54.364-04:002012-06-12T10:40:54.364-04:00Thanks Vinnie! I'm only playing the probabili...Thanks Vinnie! I'm only playing the probabilities though. The price bar yesterday definitely deserves attention and respect. But with such light volume it has me skeptical. We'll see, things change so quickly in these markets I want to see what today and tomorrow bring us.PrincipleAnalysis_Blogspot_Comhttp://principleanalysis.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-22614999206282651902012-06-11T19:41:54.230-04:002012-06-11T19:41:54.230-04:00Very interesting labeling that move down wave (b),...Very interesting labeling that move down wave (b), with a theory for wave (c) for one more push up. This seems to be the rationale for "sane" EW types, which almost none are as good as you. Your track record this year bears that opinion out. Good work as always, and we'll see if wave (c) plays out for the final curtain call on this corrective rally. Then I go short like a crew cut on a drill sergeant. Vinnie StJohnnoreply@blogger.com