Unbelivable right on that 1.618 !!

How you predict the market Jim !!






Mats

Second test of this VPOC here, and the 4PC. I think the top is in for now, so I suspect we go lower, but you'd sure think they would bounce it here. If/when they don't, it will show the sea change may have taken place, since they have been buying all dips.

On the lower timeframe look at the count on this, it sure looks like this is a W4 here. So, I'd be careful with any longs you might be in, until it proves itself. Not advice, just my opinion.

This is just such a monster GLOBEX TL here, when that goes, as many of the TL's are starting to in here, the real flush of this W3 that I think this is should get started. We'll see.

Thank you T for an answer.

Okay, now we see if this is a stop sweep or the real deal. I think it's the real deal.

Keep in mind, though, we are hitting into the second area I mentioned yesterday, and now we have the W5, so a bounce may also come in at any time.

This big 'flat' is just sitting on my key line here. No reaction up. I just don't see it holding, but you'd think they'd want to bounce it. I think the top is in, based on sentiment, and that key daily/weekly line. We'll see. Looking at the DTP area next (I know, it was an .886 in the ES, but the spirit of the pattern says that would be okay, and the INDU was a near exact DT).

We should see some bounce here, though, or it's just dead... Gimme a bounce.

The Euro is hitting right into my line today, the DX is close, the Aussie is starting to fade, the sea change may be close, as T was pointing out. Look at treasuries selling. The UK debt got downgraded (not that that was unexpected) and the cable goes up! We look to be at a very critical juncture, and no one could possibly accept an intermediate top could be in here. Old Laszlo Birinyi added to his almost 1500 S&P call, saying the S&P will be up 88% from here in the next three years. Point is, if this was a top and down we go, it would catch a lot of people off guard, a favorite market trick. On the other hand, more rally means more suckers to catch...

Hmmm, I come in and everyone stops posting. Should I stay away?

Well, we got the bounce off the 'flat' and line area after the 5 waves, as I suspected. Doesn't get too much more predictable than that. The big question is, does it rush right up like all the other dips in this 'bull' market, or has an intermediate top been put in, and after a rip, down it goes. Can't wait to see. One thing I will say, this sure looks like a rising wedge or ending diagonal here on say a 1-min or even better on an 89-tick chart.

Of course you sould not stay away !

For myself I had some other things to take care of,
and for the moment I have a bunch of papers with IB,
POC, TPO etc.

Mats