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Monday, September 19, 2011

Elliott Wave Update ~ 19 September 2011 [Update 6:52PM]

As far as all the flagging people have been doing lately - and a lot of it seems out of spite against particular commenters - I disabled the functionality of flagging. Comments shouldn't disappear anymore even if someone flags it.

As far as moderation I have said this before: Police yourselves for the most part but I don't want a Yahoo board and if the only way to fix things is to start banning people for a bit then so be it.  Keep the pure politics at a minimum is my suggestion as there are other forums for that. However, I don't mind discussions as how politics and politicians play into the larger scope of social mood, policies, etc. Just use good common sense. I generally loathe politicians but a blog boated with "I hate George Bush/B Obama" doesn't really add anything of value.

Also personal attacks is frowned upon. Hey we have to have a little bit of thick skin, but again, if you push things you'll be banned.

So for the most part, I want to run a respectable comment blog and keep it that way.

I cannot always monitor threads (particularly during the day) and sometimes I don't have much time at night. I wish I did but at the moment I am going through the process of buying a new car (my beater broke down finally and caused much headaches) and possibly a small humble home to live in as I rent still and cannot rent my current place for much longer.

I dread both, but I am not getting younger, my family needs a decent roof over their head and its tough to make ends meet sometimes. The donations that I do get I appreciate very much by the way.

[Update 9:48PM: A look at the weekly:
[Update 6:52PM: E-minis. 5 waves down from its recent high, 3 back up.
Hat tip from several readers on how you can view the pictures the old way by instead of left-clicking the picture and bringing up the new thumbnail stream, you can instead right-click on the image directly from the blog post and select "Open link in new tab" option.  The new tab with the picture is then zoomable with a left click on the picture as per before.

The 50 DMA is coming down fast. Sooner or later the market will test this key mark.  1230 SPX remains a significant high water mark over the last 6 weeks.  The 2010 peak of 1220 SPX is notable resistance. The Bollinger Bands are tightening up again.

The news of the day still gyrates between "hope" and doses of reality of the situation at hand.  It smacks of a wave four mentality.
The NDX chart is one to watch.  A spectacular bearish wedge-shaped move to test the underside of a long-running broken up-trendline. 

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