starting it off early with some thoughts for the weekend:

spx 60 and 15 - the big question for me is this - when did, or when will, Major [3] wave up for spx end? For the green count, it ended at 3338, and wave Major [4] is in progress, having given us wave W to 3214, a flat wave X to 3347 (flat because it took out the prior high and retraced more than 100% of W), and is now looking to Y to compete [4].

For the blue count, wave Major [3] is in progress, and has a variety of targets, but the nearest targets would have it ending soon, or at the high a couple of days ago. For me, the more graceful count for blue would give spx a marginal higher high early next week for wave (5) of 5 of [3]. It's a good time to be on your toes, as there is all sorts of negative divergence building up on the daily.

Paper trading. Made some on AAPL long calls. I broke even on XOM with a put.

Al :--))

Here are some recent stocks and etfs that I may have paper traded I am looking for bread and butter trade target opportunities at the open using ML sets. I am also looking at the PMO peaks and troughs for guidance in placing a ML set. I am looking for PMO troughs and peaks that straddle the PMO zero line. For example, I look for a PMO trough below the PMO zero line (or reverses near it) for ML Set Point 1 area, followed by a PMO peak that is above the zero line (or reverses near it) for ML Set Point 2 area,, followed by another PMO trough that dips below the zero line (or reverses near it) for ML Set Point 3 area, for a BUY, more or less. This is a work in progress.

AL ;--))

Here is a sample chart that lists the indicators.

OK.

Al, you are doing some interesting work. I have to say that I never heard of fib 3.618! here is aapl daily and 15....it's possible the high yesterday was a flat wave retest, or a final high for a wave [3]. I guess we shall see....

spx 5

rat,

Good observation. I got the number from page 46, "Advanced Fibonacci Trading Concepts," by Jim Kane. I guess Jim said 3.618 might be a fibonacci number. Jim discussed the Pythagorean applied to solve the diagonal of a "golden" rectangle, with sides equal to 1, and 1.618. The diagonal is 1.902. And (1.902)^2 (squared) is 3.618.

Good trading,

Al :--)

Originally posted by rat89

Al, you are doing some interesting work. I have to say that I never heard of fib 3.618! here is aapl daily and 15....it's possible the high yesterday was a flat wave retest, or a final high for a wave [3]. I guess we shall see....

Click image for original size

Click image for original size

rat,

That was supposed to be page 45, not 46. Sorry about that.

Al

Originally posted by albert

rat,

Good observation. I got the number from page 46, "Advanced Fibonacci Trading Concepts," by Jim Kane. I guess Jim said 3.618 might be a fibonacci number. Jim discussed the Pythagorean applied to solve the diagonal of a "golden" rectangle, with sides equal to 1, and 1.618. The diagonal is 1.902. And (1.902)^2 (squared) is 3.618.

Good trading,

Al :--)

Originally posted by rat89

Al, you are doing some interesting work. I have to say that I never heard of fib 3.618! here is aapl daily and 15....it's possible the high yesterday was a flat wave retest, or a final high for a wave [3]. I guess we shall see....

Click image for original size

Click image for original size

Thanks Al! I actually found mention of it on a couple of trading sites...who knew? ;)

roku

roku daily bigger picture?

rat,

It is a rarely-used ratio, IMHO.

Al :--)

Originally posted by rat89

Thanks Al! I actually found mention of it on a couple of trading sites...who knew? ;)

Paper trading. I am still looking at trying to find targets for opening moves by making use of ML sets based on PMO "line wiggles." This time I used the StockCharts "Market Movers" feature of StockCharts.com. I looked at the "Most Active" list for symbols that also appeared in the "% Up" and % Down" columns. I figured these might have small big-ask spreads. I paper traded Visa V, with a long call and it worked well. I found that V price formed a very nice Kane 4P at 0.236 fibo at yresterday's close. My CSCO puts did not do as well, and I exited with a loss. I probably got in the CSCO trade too late. That 0.618 fibo retrace from CSCO's previous morning mid gap might have been a good entry point for a long put.

Al :--))