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Thursday, April 30, 2009

Bearish Microsquiggles




This intraday chart is one reason I think 888 is THE top (for now). The microsquiggle waves are just pure bear waves down and when you can see each impulse 1, 3 and 5 wave each have a sub 5 wave inside it and even a sub sub 5 wave...well its why I do what I do.


And thats why you all come back to see this stuff. Admit it the microsquiggles fascinates doesn't it?


These look like the old bear waves back in September and October. Pure and true and unmanipulated. Tomorrow and Monday will be key days obviously.

17 comments:

  1. Yes, microsquiggles fascinates !
    Goes quiet well with a shot of bourbon.

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  2. I thought the move from 882->867 on the left side of the chart was bearish too!!

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  3. Anon, I just updatd my chart to explain that! What a coincidence

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  4. Word. Glued to people like you.

    Roxy

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  5. monday, monday.... can't trust that day..... monday morning..... la la la la la.....

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  6. thanks! I looked again myself and figured it was a zigzag. looks like an ending diagonal on the top too, that's another bearish indicator for the market. not quite sure about waves 1 and 3 preceding that though.

    where do you find a good s&p futures chart and why do you use mini? do you know of a free site, I'm using one now that only shows 30 minute bars. also is it true that all indicies must draw out the same patterns or for instance can the dow show a flat vs. s&p show a zigzag?

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  7. I downloaded a demo copy of Think or swim and just keep my account unfunded.

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  8. I use e -mini because its reflects 24 hour sentiment.


    No the indexes dont have to do the same waves if your talking smaller, but when it comes to long wave time spans, yes they should.

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  9. Let me rephrase that..long time spans should mark the tops and bottoms neat the same times. The structure can be differnt in each index as long as the long term trend is the same (bearish or bullish).

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  10. Big call buying in SRS today. carolan.org has a tidal turn date tomorrow.

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  11. Thanks DE. I hope you are right.

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  12. Move off of 888 was pure EW...nice perfect impulse structure........saweet...my eyes popped when i saw it form

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  13. Daneric - I asked you if a similiar BD line would be our target, like 1938 when you did your comparison a month and a half ago...Kenny said it stopped the SP today. You never answered me. I guess the market did instead.

    buyallucan

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  14. Sorry Buyallucan, didn;t mean to ignore. No I don;t think it hit the B-D line. My daily chart on my public list shows this line higher. But maybe I have it in the wrong spot

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  15. Dan, I still think this market could move up to 940-943 area. 200 dma moving down to join up with several trend lines. Just my opinion. Still too many people expecting a correction.

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  16. FWIW, StockTiming.com issued a red flag warning today. Net Institutional Buying and Selling activity was neutral yesterday and their core holdings went down slightly but there was a huge influx of liquidity.
    The money did not come from Institutions which means it came from the government or foreign investors. There is no data to suggest it came from foreign sources so that leaves the government.

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  17. dan, it's about 11:30 eastern here, can you make any sense out of the waves right now?

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