Longer term view
This is why im cautious here , but still bullish longer term (at least for now)...
nice call on the selloff KOOL...I thought they would take one more stab at the highs but was wrong...good for the pure volume players though...and KT players (Kools Tools players)
This chart is from yesterday, showing the expected projection off of the recent 1113 high... this is the 'low' i had hoped for! Now comes fed day .. and the seasonals should start to take effect?
Wouldnt it be interesting to see a surge over the next day or two to , lets say 1126 area which ,using the 1100.50 low would then give a long term projection to 1168-70 ? That would be in line for the expected Jan high and would lead to a wicked decline into the 4 year low next June or July! Just thinking out loud.
Well ,i called it so far ..a low the first half hour bar!..see above chart. now can we go higher over the next few days?
spy). even if im right , the risk of a wicked turn after new highs remains!...wanted to wish happy holidays to P.T, DAYTRADER, VO, BRUCE, CHARTER JOE, REDSIX, JIM KANE , ROOFER, AND ALL THE GANG HERE I RESPECT SO MUCH!
Dead nuts hit at that 1088.50!..lol
Happy Holidays to you too Kool.......that was a kool call...for me it was the minus 8 - 10 zone and then the volume surge...always great when our methods gel.....all the best to you and your family in case our paths don't cross next week
OK , notice the above chart shows wave 2(of wave 5)ending at 1088.50. im really going out on a limb here but ,what the hey! I think there is a good chance that wave 3 may have ended and we are now in wave 4. If so , a 'normal' wave 4 would be .382 of wave 3. 1088.50 to 1128.25=39.75 handles. and .382 of that would be 1113.00...