I thought I might try something different here, and see how it goes. It's quite difficult for me to post a lot to the various topics, especially with charts, since the method I use for posting charts is very cumbersome. Some charts can take me a half hour or more to put together. Since the charts I use for posting are not my 'working' charts, this work is duplicative.

I have various ideas and thoughts here and there about different things, and if I have a 'central clearing area' where I can just put out a sentence or two, pointing to something without doing the work, the members can do what assessment and analysis they want with the ideas, and post charts if they want, preferably to the respective areas they have for that topic. This way it would leave this topic more 'clean'. If you have a question or comment on what I was pointing out you could post that in here.

Let me know if you have any thoughts on this, or anything you think would be helpful/useful. Keep in mind I am not going to just tell you all my best setups in advance, especially if I plan to trade them, as that is not 'what I do' in here, or anywhere. I want to point out things that may need some work, and might go unnoticed otherwise, or are just of interest.

That was amazing.

I try not to wear the forcasting hat too much... The wearing of the forcasting hat usually leads to standing in the corner wearing the dunce hat. But, one thing I do when I suspect a 'wave 3' is put the 1.618 and 1.902 price projections on from 'wave 1'. Look at where the 1.618 fell. Now that's amazing.

Jim,

A quick question if you don't mind. I am trying to see the wave 1.

Did you mean the 1.902? I am not finding the hit at 1.618.

We are both talking about the low in the russell at 798.1?

Thanks,

Dave

Dave, you can see it nicely on the 13min

Yes, M. The first big drop on Monday AM, B. I do not apply Elliott in a strict sense at all, mostly just using various concepts in a loose sense. If it comes in at 98.935, you have the right projection. .382 at 97.25, 1.618 at 98.935, average at 98.0925, reversed at 98.10. Close enough. In other words, it hit right in the middle of the two.

Three key layers to watch from 805.4 to 807 area, if it gets there.

Watch the B=D ABCD here, in case it doesn't have another thrust. My best line is at the lower area.

What it does in here, from here to the areas I mentioned, is critical because more downside is not a given today, with all the manipulation rampers out there. What it does with this potential 'wave 4' structure may give me a lot of clues.

Looks ready to thust...

quote:

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Originally posted by jimkane

Looks ready to thust...

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'Thrust', but didn't want to edit that nice time stamp...

I think the second chart is particularly telling. I agree with the conclusion, this market is nothing more than Euro-yen carry trade on, Euro-yen carry trade off. No balance, no participation, no depth, as I discussed in my last monthly commentary, just leverage/deleverage, risk on/risk off, and that's it. Skynet is totally sentient. How long, like in the movie, until the machines decide to vaporize the useless humans?

http://www.zerohedge.com/article/tale-two-decouplings