The New CS Board

[dindindon]

06/21/14 Near term & overall perspective

This post does not make a TOP call, it is rather an overall perspective.

Projection numbers can be tuned to the nearest local reference points accordingly.

(A) SPX

SPX 1970-2050, so far 1963.91 (06/20)

05/30/14 pivot
1931.41 is the pivot/inflection point to gauge whether SPX will enter the zone 1970-2050.

06/07/14 Near term & overall perspective
Wave (3) had extended extensively, so wave (5) could exhibit at least a simple 5 sub waves.

The Fibonacci Summation Series is the tenet for E-wave
source: Fibonacci relationships

R. N. Elliott's analysis of the mathematical properties of waves and patterns eventually led him to conclude that "The Fibonacci Summation Series is the basis of The Wave Principle.".

Follow a few very simple Fibonacci extension projections, the possible wave terminal points are given in the following chart:
on 06/20 the all time intraday high is 1963.91, the closet match is 1963.76 = (3) – (4) + 1850.84,

WaveTrack International GmbH
23rd June 2014
http://www.wavetrack.com/

The five wave ending diagonal pattern unfolding higher from the early Feb.’14 low of 1737.92 has now traded to max. upside levels for its 3rd wave sequence. The orthodox top for wave 3 could be extended above its previous week’s high of towards 1966.42 prior to a 4th wave counter-trend decline with downside targets during the next couple of weeks towards 1896.46+/-.

Should the S&P fail to reject this resistance level and instead continue higher, the concept of the diagonal pattern will be replaced with a more orthodox five wave expanding-impulse pattern unfolding higher from the mid-April low of 1814.36. Internal fib-price-ratio measurements of this sequence would project to higher levels towards 1990.00+/-.

A total of three additional fib-price-ratio measurements of the larger/aggregate impulse pattern in upside progress from the June ’13 low although converge towards 1982.17-88.01-91.62 offering significant resistance and an obvious place to complete a multi-year advance.

(B) DJIA

DJIA 16719.24-17150.25 so far 16978.02 (06/20)

04/01/14 The range is 16719.24 -16810.54-17150.25

WaveTrack International GmbH
23rd June 2014
http://www.wavetrack.com/

The comparable Dow Jones (DJIA) index is also approaching a terminal high towards 17180.40 whilst the Russell 2000 has already approached upside targets for the completion of a counter-trend pattern into the 1187.00+/- level whilst remaining the higher March peak.

(C) discussions

(1) SPX: Now, a 0.618 pullback will be higher than 1560 (06/24/13 intraday low 1560.33).


(2) The result of testing (1) will tell us the possibility for the Long term bullish scenario: the weekly chart hints a possible recurring rhythm. In overall, it is very bullish, the entire movement from March 2009 to the coming peak could be part of a very large and bullish wave series.