This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Wednesday, December 31, 2008
Expecting Big Move at the End of Today; Dec. 31, 2009
I expect the market to sell off big at the close today. Currently the S&P is at 905
2 comments:
Anonymous
said...
Holy moly. Do you think the big boy will start buying on Monday, bringing the s&p to 1000? Or do you think they will take in the profit and tank the market?
The rally is weak and complacency and over-optimism is settling into the market so it's vulnerable to fall any time. However the rally doesn't appear complete now that it made a slight new high today. Odds favor more upside before the next major declining phase gets underway. I'm not touching the long side though, I'm shorting rallies only.
2 comments:
Holy moly. Do you think the big boy will start buying on Monday, bringing the s&p to 1000? Or do you think they will take in the profit and tank the market?
The rally is weak and complacency and over-optimism is settling into the market so it's vulnerable to fall any time. However the rally doesn't appear complete now that it made a slight new high today. Odds favor more upside before the next major declining phase gets underway. I'm not touching the long side though, I'm shorting rallies only.
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