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Friday, May 29, 2009

Intraday Waves Again


The triple zig zag is out. A possible intraday triangle may be developing and a breakout pushes the high to 919 or so.
Adjusting on the fly. Anyways, the intraday waves since the early peaks looks like triangle waves - complex and overlapping.

22 comments:

  1. dan, how bout we already finished the A and B of Y, and just kicked off the C leg of the Y leg down and are doing a 1-2 (leading diag, now zigzag on the 1/5m).

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  2. sorry meant just kicked off the Y leg down, and already finished X

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  3. JB, perhaps, but I somehow think this day will end on a bullish short squeeze and then Monday will be a down day possibly a big red distribution type day

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  4. Hi Dan,

    I map the waves on Nasdaq in parallel with the S&P because I find them much tidier. I also look to Nasdaq for leadership or at least confirmation. Here is my chart.... cheers.

    http://screencast.com/t/0pooYkIuQi

    -pat

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  5. DE, tell kenny he can kiss my balls,,, caldero says he have whatever kenny,s sniffin!!!

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  6. I'm very worry about the market...

    Watch out for a big drop soon...

    Bulls are dead...

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  7. Rally to 919 would set the stage for a bearish looking Gartley Pattern early next week just in time for Wave E down out of the larger Triangle pattern.

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  8. dan, you need to quit your day job and do intraday everyday :p

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  9. Well ... looks like you got the 919-920, congrats on your charting! Now what?? flyfar

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  10. Daneric,

    I'll give credit where credit is due. Your intraday analysis was right on. For the first time I made money reading your blog, and you did not kill it with too much details (sometimes less is better). Since that is what it is all about I tip my hat to you. Good job, and try to post intraday if you can.

    Coolhand Luke.

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  11. Unbelievable call. I bet caldaro called that too,lol. Congrats dan

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  12. Hey, anon, you made money on Dan, now send in a donation to the man.

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  13. Coolhand .. "Tip your hat" ...lol..as if your opinion about things has any respect around here!

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  14. Dan,
    was that a good call or what? boy oh boy, you nailed it to the wall.... how 'bout you take some days off your job so you may make good calls.
    11/10

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  15. Ok... now let's get ready to rumble on Monday...
    Plunging....

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  16. Great Call!!!!

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  17. Incredible Call!! Where is Coolhand? :)

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  18. Excellent call!

    I think we dont get a pullback which people are waiting for. This P2 will wipe out all the shorts. Government is supporting big time and GS is the move maker of this market!

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  19. Hey Dano -- Did you manipulate the hour of trading to hit the number dead on?? Never really thought it would hit the 919 at 3PM. You're the best (despite that fact that I'm still holding skf and faz abd took it on the chin today as well the past month). Congrats again, and thank you for your helpful explanations and overall efforts... which you call fun. regards, flyfar

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  20. Great call Dan.
    So much for my Nasdaq leadership theory.
    -pat

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  21. a down Wave is coming...

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  22. Dan,

    You are amazing. I believe many (including myself) are impressed with your expertise.

    Please keep up with good work. I am sure it will pay-off.

    Regards,
    Syed

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