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Monday, April 27, 2009

SPX Top Alternate Count


As I suggested in my update tonight, the markets could be tracing some kind of "X" wave triangle pattern. Though in the long run, its not much different in scope to what I have currently labled but it does allow the markets to make new highs and make unusual moves. Thats the nature of triangle waves. They tend to trace complex corrective patterns.

And they can take longer than a straightforward corrective or impulse.

5 comments:

  1. ciao Daneric.

    what about bank test result on coming monday. You do not think it will give a mk boost to new high (i.e. 900)

    thnks for sharing your work

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  2. DanEric any thought on SRS? Have ou done any work on this? thnks and good trading

    ReplyDelete
  3. Only that SRS will generally follow the market

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  4. THIS market , if it keeps this up, will definitely drive a person nutso. ive been in and out of SRS more times than my first girlfriend but id rather this market head in a sustainable direction as i have better things to do than trade all these squiggles. getting
    quite tiring.

    ReplyDelete