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Tuesday, September 10, 2013

Elliott Wave Update ~ 10 September 2013

I am changing comments to "email verified only". In other words if you have problems commenting, its because you didn't clear things through DISQUS and get your email verified. No one is banned at the moment so if you have problems, its not because I banned you. DISQUS is an imperfect system I realize, but its what we have to deal with.  If you cannot comment, deal it with through your DISQUS setup, not me.

Taking away the ability to post as a "guest" should largely take care of spam and trolls. Of course if they are persistent, they can gain access, but it won't be as easy. As of now, I am playing "whack-a-mole" and its not terribly effective.

As a side note, some of you long-standing posters are half the problem. Though I sympathize with some of your plights, I'll ban you just the same cause your childish posts are just as bad as a drive-by troll. . You people that cannot keep the comments "on target" and stop the "tit-for-tat" will get the ban button just the same. So if you have a desire to bring attention to yourself through inane banter, well, you'll get it I guess.

If it turns out everyone is banned so be it, at least there will be peace on the blog, my blog I may add.

Ok, well then, sorry for the grumpiness about posting but it had to be said. I generally like the banter and am tolerant and liberal when it comes to free speech, but c'mon we need to act a bit more adult. Thanks.


SPX is challenging the big open gap at 1685 SPX. This is not surprising.
Other variations of count. Wilshire is in good shape to be making new highs. Hey, if that's what the market wants, so be it.
If that occurs, it would fulfill our proportionate timeline as shown below on the Wilshire weekly. Note that RSI would likely be at a double negative divergence confirmed by a waning NYAD cumulative line. That would be bearish.
SPX weekly shows the channels. I stated that if the channels stayed intact, they are bounce points. That has panned out. The ideal "target circle" has been on this chart the past many weeks.
And yes traders and such are getting pretty one-sided. CPCE lowest 5 and 10 day close since early 2011:
Technically, the NYAD is diverging.  Prices close to a new high on the NYSE, yet the advance/decline line is lagging when in the past four years it typically led prices (sometimes by a lot). So patience is needed. The rally has been a 5 year rally, but it is flashing warning signs.

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