Latest S & P 500 Count

[finster869]

Anybody else think C4 is coming to an end or has ended?

[Steely Dan]

Finster, I can't see the RTB for 5 of C4, which either means it's still to come or it was a small camouflaged one. Of course we could chew up time and territory with this internal c4 if it is yet to be, which is what I'm hoping as it would give a clearer opportunity to go long.

[spike1]

   

[finster869]

YUP, I have the same thing Spike. BUT, I'll obviously feel better about it after we break 1122.79.

[spike1]

(09-27-2010 04:44 PM)finster869 Wrote:  YUP, I have the same thing Spike. BUT, I'll obviously feel better about it after we break 1122.79.

Nothing wrong with playing safe. Take care.

[spike1]

(09-28-2010 03:34 AM)spike1 Wrote:  

(09-27-2010 04:44 PM)finster869 Wrote:  YUP, I have the same thing Spike. BUT, I'll obviously feel better about it after we break 1122.79.

Nothing wrong with playing safe. Take care.

New high. Thats the five.

[Steely Dan]

Agreed 1122.79 is the key level. The count since the 6th July low seems pretty clear, it is what went before it which is open to interpretation. Have we topped and are now heading much lower or will we even see new yearly highs before topping? It is imho possible to stop just above 1123 then head upwards and keep repeating this behavior for several iterations whilst heading higher.

There is a danger in drawing cross-market conclusions but Tom did have a count expecting 1.70+ for cable and Gold looks to be accelerating it's rise. Still looking to trade the 'C' wave extremes means that such conjecture doesn't matter so much. Latest short term count included, but really the blue line is the big one.

Dan

[spike1]

(09-29-2010 12:08 AM)Steely Dan Wrote:  Agreed 1122.79 is the key level. The count since the 6th July low seems pretty clear, it is what went before it which is open to interpretation. Have we topped and are now heading much lower or will we even see new yearly highs before topping? It is imho possible to stop just above 1123 then head upwards and keep repeating this behavior for several iterations whilst heading higher.

There is a danger in drawing cross-market conclusions but Tom did have a count expecting 1.70+ for cable and Gold looks to be accelerating it's rise. Still looking to trade the 'C' wave extremes means that such conjecture doesn't matter so much. Latest short term count included, but really the blue line is the big one.

Dan

Agreed.

[spike1]

Steely Dan mentioned earlier on Finsters post that he could'nt find a RTB of 5 for c4 so with the current events unfolding I think the only explanation for that is that it wasnt a c4 but a (b) instead. Perhaps you could take a look below people and let me know what you think.

   

[spike1]

The rational behind my reasoning for it being a (b) is below people.