Starting it off.

All right, watch here.

I'm guessing spx is in W4 now, since june

Originally posted by jimkane

Yes, the PC = PA*1.618 is the bearish 'W3' I mentioned. That's the minimum I want (and then I can start talking about W4&5, and how all that was just W1 of a bigger move, and so on

).

Originally posted by rat89

to me it looks like PB ended today, providing the setup for C of PA, PB, PC. More typical would be PC = PAx1.62. I am thinking conservatively

Originally posted by jimkane

Yeah, if that all unfolded it would be truly magnificent. And if it was a bearish 'W3' and not a CD leg, well, that would be incredible. I don't think it will come to pass, but I hope it does.

Originally posted by rat89

35.24 - 56.44 = .618 at 43.34
41.92 - 56.44 = .886 at 43.58
If that was the turn, AND if I have the counts right, a measured move, where PC=PA takes it to around 63

So, rat, you are thinking a W4 on the run from 2009 and a W5 up to new all-time highs after the W4 completes?

yes, it has to stay above 1371

Originally posted by jimkane

So, rat, you are thinking a W4 on the run from 2009 and a W5 up to new all-time highs after the W4 completes?

Yeah, the old W4 can't trade into W1... But proportionately I can't imagine it getting anywhere near that level and then hitting new all-time highs and acting properly for a W5. Mid to upper 1600's I could see. But right in here is balanced with W2, which is why I think it could go up from here for W5 (after some additional probing/testing, but I think the better odds say no).

Originally posted by rat89

yes, it has to stay above 1371

Originally posted by jimkane

So, rat, you are thinking a W4 on the run from 2009 and a W5 up to new all-time highs after the W4 completes?

The Euro is pretty nasty these days. It makes new highs but still cannot make it above a key, upsloping price flow. It's just tracking it, giving some reaction here and there.

But I think one of these reactions is starting right now.

1.1355 would be great.

Originally posted by jimkane

Yeah, the old W4 can't trade into W1... But proportionately I can't imagine it getting anywhere near that level and then hitting new all-time highs and acting properly for a W5. Mid to upper 1600's I could see. But right in here is balanced with W2, which is why I think it could go up from here for W5 (after some additional probing/testing, but I think the better odds say no).

Originally posted by rat89

yes, it has to stay above 1371

Originally posted by jimkane

So, rat, you are thinking a W4 on the run from 2009 and a W5 up to new all-time highs after the W4 completes?

Again? Really? Come on...

charts to end the week: