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>It looks to me like the market is tracing out a contracting
> triangle defined by waves a,b,c,d,& e....and peak
> in the 857-862 range ....
If it rallies to 857+ it won't be a "contracting triangle"
anymore: it'll have taken out the highs of a and c.
--- In realtraders@xxxx, "Hill, Ernie" <ernie.hill@xxxx> wrote:
> Hi group,
>
> Looks like a slow night. I'll get it started with my EWT
interpretation of
> the SPX. It looks to me like the market is tracing out a contracting
> triangle defined by waves a,b,c,d,& e. Waves a,b, & c are already
complete I
> expect wave "d" to be completed tomorrow near the 809-810 range. I
am then
> looking for wave "e" to break through the upper red channel line,
and peak
> in the 857-862 range on 10-9 plus or minus one day. This would
complete the
> wave "iv" correction and the market would then continue with the
strong down
> trend to complete wave "v" of "3".
>
> In practical terms the market will likely be very choppy until
wave "iv" is
> completed. I am looking to let this move play out, and then go
short when
> the 9-26 high of 856.59 is taken out. As for my interpretation of
the EWT
> wave structure bear in mind this is only one possible count for the
current
> wave structure. I have chosen it as my preferred count because it
matches my
> own work, which calls for a high turn to occur on 10-9 plus or
minus one day
> near the target range of 857-862.
>
> Good trading to all,
> E
> http://groups.yahoo.com/group/snpforecasts
> <http://groups.yahoo.com/group/snpforecasts>
>
> PS: Please forgive my poor charts. I have to use MS word to do my
> annotations. It makes for a sloppy looking chart.
>
>
>
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