DJI Daily - possible intermediate picture counts.

Bearish shown with a wave-V down underway.
Bullish count would have wave-v complete with wave-I and wave-V approx equal by price. Problems for this count are that I don't see a five-wave count for 'v' and the overall cycles' picture.

Hope everyone's well - Been lurking and following the posts/updates closely, especially as we close in on the significant nested Hurst cycle low that appears to lie ahead.

Looks like Bliss may be correct that we just saw the 6/7 day cycle low come in at LOD. Bigger picture though is that we just made a lower low versus the price at the prior 5 week cycle - as well as taking out the August lows - consistent with bearish near-term expectations for the general market.

Wanted to hopefully add to the discussion here via the enclosed chart(30 min SPX).
After the August low, we had the complex correction with an ~ 50% retrace and which appears to have ended with the break out of the ascending wedge (9/12-~ 9/20).
Following the motive decline out of that 9/20 (or 9/16) peak, the retrace was a precise 78.6% (blue retrace scale). In addition, the (green) 1 X 2 Gann Line, out from the August low, acted as a precise point of resistance {this retrace level (0.786) is consistent with a wave '2' + we have a significant point of price/time interaction}.
The motive decline from that retrace point (a complex wave '3'?) has the maroon Gann 2x1 fan line acting thus far as resistance.
(fuschia price scale is % extension of current motive wave versus wave '1')
At present the two motive declines are 1:1 by price. Suspect that the next 5 week Hurst cycle low (also nested 10 week) gives us the bottom for this sequence. At present getting spx 1010-1050 as possible price target(will likely to better refine this range this weekend).

Regards


" rel="nofollow" target="_blank" >[URL=imageshack.us/photo/my-images/833/spx1004.jpg/]
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Tech - have to agree with you - just an intra-wave pause here. No particular level here although price came close to target area - rally off of intra-day low pretty anemic as well thus far. Suspect we still have unfinished business on the 'dark side'!

Euterpe - ty for the comment. I saw your post just prior to having to leave for work this AM - was going to respond later BUT I see that the futures are already declining into the target area and wanted to get this to you. The chart you linked to shows a s/r line at 1032/1033 on the spx - this is the support line that features the multiple price touches and is the point where I expect a bounce. I apologize regarding the more recent chart as my'focus' there was an analysis of the 16 week cycle that was being discussed. That chart featured a longer time frame and I have to look more closely at the placement of that s/r line on that chart. These various Gann s/r lines arise from ellipses in other time frames that I work with. At present I have 1033 as my next significant support line. If that breaks then I have a s/r line at 1007 BUT yes - once the market breaks that 'major' at 1033 I expect that the ellipse floor at that 900 target area is in play.

Good trading!

Trucircle - your data regarding a 16 week cycle was interesting. I tried though, to incorporate it into my composite cycle/Gann-Astro chart starting with your pre-March 2009 trough - overall, with the exception of the first two cycles there didn't seem to a good fit observed to price action for alternate cycles. Running the cycle as 16 x 2 (or 32 week) was more interesting with respect to price action. The fuschia arrows in the chart below show the positions of this cycle trough relative to price action since that pre-2009 low.

[URL=http://img815.imageshack.us/i/spxgannastroellipsehurs.jpg/][/URL]

Uploaded with [URL=http://imageshack.us]ImageShack.us[/URL]

Also of note is this next chart which shows the recent and expected position of the pending trough. This position does match the time frame you posted for it. In addition it appears to nest directly with other Hurst cycles - because of this I will be expecting an additive cycle effect with the probability of a lower price than expected at that trough. (I know some are looking to that nested point for/as the 18 month nested low - will have to sort that out when we get there!)

[URL=http://img189.imageshack.us/i/spxgannastroellipsehurs.jpg/][/URL]

Uploaded with [URL=http://imageshack.us]ImageShack.us[/URL]

Regards

Hope everyone has been well. I've posted the chart below previously which shows the Hurst cycle action combined with Gann/Astro based ellipses. In these ellipses, the structures of significance are the roof (or floor), the major (horizontal midline), and the minor (vertical midline). The dimensions of the major and minor, to construct the ellipse, are based on a Gann 'key' which is market specific. Each ellipse is started at the Hurst cycle trough - and then positioned so that the roof (or floor) contacts the price point of the first upleg peak (adjustment of the ellipse angle should there be a higher or lower price point is permitted, but as seen on the chart below, was not necessary).
The vertical colored lines are various Hurst cycles, by calendar days, which are mirrored and then allowed to independently march through the chart.
Courtesy and thanks is given to SilentOne for the Stochastic/cycle indicator at the bottom of the chart.
Observations:
1) Based upon the market price action, vertical line cycle confluence, and the Stochastic indicator - it appears that the 18 month nested low did arrive on July 1.
2) Each 20 week cycle segment progressed as would be expected - moving from the trough point to the roof position with price then attempting to hug the roof. The 'angle' for each ellipse was successfully able to be set at the top of the first impulse leg out of each 20 week nested cycle trough. 'Bullish' price behavior over the first 3 1/2 ellipses was demonstrated by the price action remaining ABOVE the ellipse major. Each 20 week nested cycle low saw a move in price down to touch/test the major (support) followed by a move back to the ellipse roof.
3) Note that the character of the price behavior changed abruptly on Apr 15/16 right where the price intersected with BOTH the 4th ellipses' roof and Minor. Following, there was one retest of the roof and then a breakdown of price, the first since the prior Hurst nested 18 month cycle low, with respect to the ellipse major.
4) Price action since the July 1 low is now of significance, especially given the nature of what is expected for this 18 month cycle. Note that in the current ellipse, price action has given us our first leg-up price point which allows the ellipse to be set - BUT - note the subsequent action (compare to the first cycle out of the last 18 month cycle low).
a) the ellipse 'angle' is shallower
b) price is being stopped by the previous ellipses' major which has been tested twice and is now acting as resistance and is bearishly holding price action below the roof of the current ellipse .
5) Stochastic is coiling up into overbought
This is the first cycle (and ellipse) out of this recent nested cycle low. Price action should be showing solid strength here - it isn't (thus far anyway - but the cycle is still young).
6) Current ellipse major lies at approx 1033 (white horizontal line), which if you look back in time is a price point which has seen a number of prior touches.
Based on the above, caution is warranted here. I suspect that at some point we WILL see a move back to the ellipse roof - but watch this ellipses major at the 1033 level. A break, imho, means look out below.

Regards

[URL=http://img801.imageshack.us/i/spxgannastroellipsehurs.jpg/][/URL]

Uploaded with [URL=http://imageshack.us]ImageShack.us[/URL]

Cycle low target for SPX was just met (upper border)

Cycle low target for SPX was just met (upper border)

Finally - got the right link to embed chart!

Cycle trough is early for 20 week/late for 10 week. McLellan NOT supportive for this as a 20 week cycle low.

Update on SPX 10/20 week cycles chart


http://img706.imageshack.us/i/hurstspx1020weekcycles.jpg/

Regarding the position of the current Hurst 10 week cycle low - - some Gann phasing (time squaring off of the Feb 5 cycle low) is suggesting that it arrived last Friday at $SPX 1161.50. Suspect Stochastics will relect that shortly - still need price action to confirm

My current SPX 10 week cycle phasing position, with courtesy to SilentOne for the applied Stochastic indicator. 7th 10 week cycle low (in the current 80 week (18 month)) now appears to be coming in (or came in late last week!). As this is the last 10 week cycle SPX price 'should' be limited - remains to be seen though given the level of the rally since the March 09 low.
One thing I do note is that the price slope from 20-week cycle low to 20-week cyle low has decreased for each of the 20 week cycles in play since March 09, with the most recent 20 week showing an almost flat overall low-low slope..
The double vertical lines in the May timeframe is one favored time projection atm for the arrival of this next major cycle low.

Regards

DowDeva - sorry to hear that surgery is in your near-term future. Obviously, personal wishes for success and a very speedy recovery. If opportunity presents, you have another party here interested in your ADX fine points/intricacies. It is an indicator that I also use extensively in my trading.

Regards

Joseph - sorry it took me a bit to get back to you. Overall, my opinion on McHugh is mixed to positive. There are times he is very much on target and the other times - well if you listen to McHugh - at those 'other' times he also on target! Benefits are a single site where you can update all the major markets at a glance, update e-wave positions and 'likely' moves to come, follow several proprietary indicators that do have trend/cit value, decent e-wave discussion (including SC-IV patterns/targets), and get a 'feel' for the small versus large patterns in play (including some alternative patterns to consider). You can get all of the above (and frankly far more) via existing chat/trading sites (including here), but during a busy workweek there are times where I just want a quick single end-of the-day read.
Downsides - he (and this is a common problem with many similar sites) rarely admits to 'blowing' a call even when it smacks him in the face, sections of his site (ie: hui/gold) are updated infrequently (I think one section hasn't had a wording change in approx 6 weeks) and have at times been calling for opposite moves (when this occurs - expect that he'll take 'credit' for the right call while the other simply disappears). Despite the criticisms I noted, I find the site above average and of use during my work week. Hope that helps.

Regards

Have to agree with you - Looks like we could see a fast retracement to/near that support line, which also just so happens to test the neckline break of the reverse H/S pattern now in play. Would keep that pattern possibility in mind if shorting here.

Here's Neeley's link:

http://www.neowave.com/company.asp

Silent - Neeley is from Neowave and unless there's another Glenn Neeley, he wrote a detailed text on his version of working with e-waves. What I believe he is referencing (which McHugh also discussed on his site) is that up until this spx 'break' there have been several 'options' from e-wave perspective as to how the bear would play out. This upside break has actually eliminated the two less severe scenarios (flat/triangle formations) and places an 'A-B-C' as the likely overall form for SC-IV. Lows for this projected formation take the markets to the lowest absolute numbers with overseas markets projecting to near zero// spx to 100 - 300 //DOW to 1000-3000. Recovery from these levels should they actually ever be reached would obviously take a very long time.

Regards

Jim - You are correct. If yesterday was the first 80 week low that the next Hurst 4.5 year low works out to 2012.22 (approx March 24, 2012).

That 2011.45 date, however, will be the next 'major' Armstrong cycle low (and the likely position of the final 40 week Hurst cycle low prior to the bottoming of the 4.5 year Hurst cycle).


It is the Armstrong sub-cycle which immediately follows the 2011 date that will fall in line with the next Hurst 4.5 year cycle low .

Near-term future Armstrong cycle dates:
04/16/2009
01/04/2010
09/22/2010
06/13/2011
03/08/2012

Note that two of the above Armstrong dates (9/2010 and 3/2012) have obvious correlation to future expected major Hurst cycle (next 80 week and 4.5 year cycle) dates. I would also expect the above 6/2011 Armstrong date to wind up also being significant for Hurst as was seen back in Oct 2002 (recall that Oct 2002 was the prior 'Price' low AND a 20 week Hurst cycle low - this was also the prior major Armstrong cycle low.

Regards

Double - If you are correct in that we are now 80 weeks from what would have the ideal Hurst 4.5 year cycle low time-frame, then I would have absolutely no problem with the Hurst cycle pattern. You note that the market appears to have peaked four weeks after the prior 4.5 year cycle low would imply to me that the larger cycles are to the downside all of which will be meeting at the next 4.5 year cycle bottom - this is also consistent with Armstrong who has 2011.45 as the bottom for this current cycle (if the current bear follows an A-B-C pattern then this 2011.45 date stands a good chance of being the point of the final low). While we might prefer that these 4.5 cycle bottoms be identifiable price or indicator lows (and they probably 'usually' occur that way), I am not of the opinion that it necessarily has to be the case. As we saw clearly in 2002/2003 we saw distinct cycle lows represented by indicator and by price representing variations of intra-sector/inter-sector cycling. To me what mattered more was whether or not cyclical price projections continued to hit their projected targets - which they did.

So - Placing the 4.5 year cycle low in Aug/Sept 2007 allows the current time frame to be the first 80 week low in this 4.5 year cycle; this placement also allows for a good fit from the prior major cycle lows, especially the March 2003 low. The October 2008 low becomes a cycle low by indicator and the cycle low now will be the price low which is very similar to what we saw with Hurst in the Oct 2002/Mar 2003 time period. The Aug/Sept 2007 cycle low likely marked the end (just as it 'should' have!) of the primary underlying bull cycle and thus the 'low' for that cycle; that point, perhaps, may have actually been more significant to the workings of Hurst than where we are now. Assuming that the market doesn't collapse altogether - Expect a decent rally off of this 80 week low - HOWEVER - if my thinking is correct, both this and the following (final) 80 week cycles of this 4.5 year cycle will be severely right-translated leading into surprisingly severe lows yet to come for the GM over the next two cycles.

Regards

Pmiles - apparently I'm unable to reach you via this site - contact me via e-mail if possible from your end!

McLellan Oscillator - has anyone looked to the McLellan oscillator regarding cycle positioning. I note that the October/November 2008 lows are consistent with what should have been an area representing a highly significant lows (summation index values below -1500 are very significant) especially as they occurred ACROSS markets. At present we see a 'price' low coming in now with a concomitant less significant McLellan summation low. This is similar to what we saw (although in reverse) at the October 2002 and March 2003 lows. Problem is that the current Mclellan troughs do NOT seem to fit what is being proposed for Hurst cycles at this time even though the chart cycles being posted are hard to argue with.

Following link was courtesy of Airedale88:

http://stockcharts.com/charts/indices/McSumNYSE.html

Regards

Pmiles - Idea of a NYC get-together for a drink and talk sounds great. (Will send e-mail via pvt post so that we do not run afoul of the OT posting rules!). Quite a world of change in the currencies and precious metals sectors (not to mention the GM) since the last time we met.

Pmiles! - glad to see your still around and posting. Hope all is well with you and everyone here on the board.
Keep in mind that what we are seeing here is all just the 'A' wave. We appear to be in Wave 5 of 'A' since the beginning of this year and currently ending 5-5-3. Bounce (if we can call it that yet) at spx 700 was a bit lower than I expected but not surprising as it's a pretty important technical level for the S&P. Wave 5-4 rise and then 5-5 to conclude. SilentOnes Gann chart pretty well summed up where we seem to be headed. 'B' wave to follow and I agree we 'should' be able to get back to around the 8000 area on the DOW. After that - the 'C' wave. If 'C' patterns after the 'A' we'll be looking at a possible spx target of 100.

To those who think this is impossible - look up DOW history - 1932 saw the Dow fall to 41. This wiped out virtually ALL gains dating back 36 years to the very first close of the DOW in 1896 (40.77). From where we are now, a wipeout of similar time scope takes us back to the early 1970's. In 1972 the DOW topped the 1000 mark for the first time. It certainly appears at this time that another multi-decade wipe-out of wealth valuation is in progress in these markets.

Present Positions: Long Physical Gold/Long GDX/Long various gold miners/Long GE (so that no one can accuse me of being totally un-American!)/and Short ES

Good trading/hope everyone is well/Regards

Haven't been here in awhile as well - also still miss Airedale's insight. I am heavily short at this time on the general markets.
A long term view of the Dow will show a 'three peaks and a domed house' pattern decline now in play on the DOW. This pattern's origin goes back to 1999 and its target is the 2002 low in the 7200 area. All rallies are now being sold into. A review of the McLellan Indicators (oscillator and summation) show that neither the NYSE or Naz are at their bottoms (they do seem to support that July was the 4.5 year cycle low).

A possible alternate view is that the close today just breached the Dow's lower TL dating back to the 2002 low. That support 'could' hold and then we rally up on Monday morning - however- Fridays close makes it probable that we start Monday to the downside. A formal breach of our TL on Monday am (Fridays low) should get a retest from the 10,000 level. That retest either retakes the TL or the 3peaks pattern and 7200 target is in play with an anticipated bottoming by mid/late October.

Regards to all and good trading

Very sad day as I also am just reading about the passing of Airedale88 (Bob Chonski). Although I also have not posted here in some time, I have on occasion returned to review and follow some of the various topics of the day being discussed here. I will echo the sentiment here that Bob's posts were always the first ones that I looked for. I found him to ALWAYS be a patient and kind listener. He was ALWAYS the willing teacher. He loved a well presented challenge or debate and seemed to welcome the opportunity to defend his point of view. His avid love of what he was doing in the market and Hurst cycles was clear and obvious. His loss to the community here is significant and I will truly miss him, his passion, and his insight.

Tom - welcome to the board here - you have some rather large shoes to fill here!!
Thank you for passing on the information regarding your brother. He was in my opinion, and as I know you are aware, a very special person to many on this board. My sincere condolences and best wishes to both you and your family at this sad time.

Regards,
Gary

Airedale - BTW - I am by no means looking to abandon using Hurst analysis. I have posted the e-wave data, in part, precisely because it is differing from your Hurst data. I would prefer concurrence, but that is not the case right now. I remain of the opinion that it will be interesting as well as educational to see how this plays out.

Regards,
Gary

Airedale - I can't disagree with the sector data you have posted, however, E-wave is saying something else at this time. It is interesting though, that the markets have continued to move downward, yet there are sectors that you are noting which appear to have made their 40 week lows. I do note that the market response, post - 40 week nested low with larger cycles in an 'up' position, has not acted as one would expect save for a single run-up of significance. This would seem to indicate that the bounce off the nested low of those stocks/sectors you are looking at has been weaker than expected or is being offset elsewhere. If the 40 week nested low is yet to be seen I believe that Mr. Cash posts a tentative target of ~spx 1132. My target (non-Hurst) is an overshoot of this at ~1110 area with the possibility of a cascading decline into the end of May. This week should be helpful to sort things out as option expiry 'could' lead into the markets rallying which would support your view or continued decline, possibly significant decline, which would likely require sector re-evaluation.

Regards,
Gary

Chart update: I note that we ended the week with what could be considered as convergent troughs for the macd, index, and stochastics. Will still wait for the fast stochastic line to cross back and confirm this as it is not supported by e-wave analysis.

http://stockcharts.com/def/servlet/SC.web?c=$SPX,uu[h,a]daclyyay[p][vc60][iUa12,26,9!Li14,5]&pre...

Gary

Reviewing index charts and finding somewhat differing wave structure for each of the indexes as E-wave progression is not in-synch. The dow and spx appear to have started their wave v-3 descents. Due to the short wave-iii in the spx there is a wave 4/1 overlap in the spx which needs to be addressed(minimal overlap, if any, in the dow). NDX appears to have topped at in wave i-4 (right at bottom of what would be wave i-1), which if correct - implies that the NAS moves down next week. Coming week features May option expiry where we are already below MAX pain levels. Next fibo turn date is not until the last week of May which I believe is consistent with the timing Mr. Cash is looking at for the next nested Hurst cycle low. McHugh notes the wave 4/1 overlap I have pointed out above >which is not permitted under Elliot wave rules< and sees a whole series of waves now unraveling to the downside with us currently in a wave i-3 of a SIGNIFICANTLY more complex bearish pattern. One problem here is the size of the pattern (can not even predict downside targets at this time; another is that we only have slightly more than two weeks (one of which - the coming week- seeing option expiry) for this to play out and into the next fibo turn date - . How to put all of this together is not exactly clear -but here is my $0.02:
1) McHugh, I should note , has been dead on target since the rise into the March peak. This current wave sequence has played out faster than he originally marked out. If correct, then expect that option expiration week will not matter as we have wave three's in play. We could decline to the ~9000 area by the fibo date (my interpretation - as this coming fibo date is supposedly one of significance). We should rebound strongly from here which as we would have completed a large order
wave-1 with a strong wave-2 to follow. The use and consideration of larger order waves as in play here eliminates the problem of the wave 4/1 violation in the spx. MACD and Stochastics (as well as Hurst) not supportive of this type of decline right now.
I presented the above as I have it mind but it is not necessarily my favored path. Despite the noted wave 4/1 overlap, I also perceive market intervention at critical price points. From an e-wave standpoint they should not matter (and ultimately won't). My stochastic chart (previously posted) remains on a 'sell' and still points down. Fridays drop shows how fragile the markets are right now. There appears to be some bond money filtering in and looking for a place to hide and which gave some early support. I also noted that the bounce target late Friday at dow 10075 was a virtually exact 'zigzag' target at which to trigger a rally and thus prevent a sub 10,000 dow close prior to this weekend. I am therefore also considering:
2) A fast downmove starting the week to ~9900 and then a 'supported' rebound into option expirations. Double bottom or slightly lower into the fibo period. In my referenced stochastic chart, the divergent MACD on the last peak would be supportive of this potential outcome. Wave i-5 would also be relatively short, which is expected in the current sequence (the wave 4/1 violation, however, is an unresolved flaw (albeit in one index) which I have to keep in mind).
3) Markets continue up Monday morning to a fibo retracement (from 10,300 area) prior to #2 above
4) The market from the Monday open tries to move sideways to up right into option expiration. I originally thought limited intraday volatility would also accompany this - but now, not sure. Not my favored outcome and not supported by my indicators. Supported by observation of market movement (intervention), option expiry with max pain above us, and bond money movement.
>On Friday, I found myself stuck in major traffic as I listened to the market falling to -100 on radio reports. I had expected to be able to be trading by 3PM, to close out my week's positions. Arrived home at 4:03PM - by then the market had moved to -40. My es/ym futures had been closed by their trailing stops(kept them closed due to late Fri rebound) and was able to sell my djx may puts at the asked price (but less than they'd have been at 3PM, however!!)(in the black - so no overall complaints).
Still holding June spx 1100 puts/djx 100 and 99 puts/q's 34.0 puts.
Action early in the coming week should be telling. I kept my es and ym futures closed due to my indecision about how we start the week (as is apparent in my path options noted above). I also had no desire to hold May options into this final week (risky enough to hold them as long as I did). E-waves and my stochastics still say downside remains ahead, therefore held the June options. If we slice right through dow 10,000 without any support shown for option expiry then we could be in for a very nasty decline right through to the end of the month. Time to start looking at some calls to buy at the end of the month for the expected rebound.

Gold remains on a sell signal - but a bounce should be seen soon. Miners still appear in need of some shock therapy.

Regards,
Gary

Observation regarding chart:

http://stockcharts.com/def/servlet/SC.web?c=$SPX,uu[h,a]daclyyay[p][vc60][iUa12,26,9!Li14,5]&pre...

Stochastic position speaks for more downside to come.
MACD off of the recent interim (lower) high, however, is divergent. This speaks for some additional strength relative to that lower high. As noted in the prior post, this current downwave may conclude higher than we expect - the divergent MACD may be a clue regarding that possibility.

Regards,
Gary

Hello all - At this point we are in another wave 3 downwave. Whether this is wave v of 1 or a 5 wave C retracement the immediate trend is to the downside. Update of the spx chart previously posted.

http://stockcharts.com/def/servlet/SC.web?c=$SPX,uu[h,a]daclyyay[p][vc60][iUa12,26,9!Li14,5]&pre...

The result following the stochastic crossing here is obvious and consistent with prior crossings.

Keep in mind that wave-iii was shorter than wave-i (not true for the dow, however), therefore wave-v should be comparatively small. I am playing this short only until I see the end of current wave (1-v-iii).

I think many e-wavers are considering the current wave as concluding wave 1 (wave 1-v). We should see a signifcant rally off of the low after this wave plays out. Problem is, that if correct, then the retracement peak which follows would likely represent the 40 week Hurst cycle high (left translated) with new lows to follow. There are other possible scenarios, but this one appears most likely at this time.

I went full short as discussed in prior post with futures and options. As these are now well in the black, to protect profit I will look to close these quickly as this current downwave concludes. Playing the last downwave (fifth wave) here would be very risky; a better option would likely be to play the expected retracement. Next fibo time window near Memorial Day.

Gold - breakdown continues. Longterm TL now broken. I am looking for higher weakness in the physical gold right now - to close the existing gap between the strength of the miner stocks and the physical gold. Back up the truck time, though, will be coming relatively soon!

Regards,
Gary

Mr. Cash - Thank you for doing that leg work - could definitely make for some interesting leveraged trades! Was wondering what you have been up to!

Regards,
Gary

OT - Anyone else having a problem with the orange ING ad banner?
I have it constantly popping into and interfering with this sites posting area (covers messages and blocks typing). Any suggestions re: dealing with this?
Thanks,

Regards,
Gary

SPX~1164 critical support level which we breached today but appears we will close above. Breach here could start a rather quick decline of 10+ points on the spx. If this occurs it appears that we will then be getting rather close to some significant longer term trendlines. Tomorrow is last day of the current 'fibo -window' period; the next one occurs near Memorial Day. As Airedale noted, todays' action could be a small cycle low. Today was also important for the 'bear' perspective as the downmove was required today in order to continue to validate the e-wave model from a time perspective.
So -today - start of the next significant downwave or end of a small cycle low and tomorrow we rally on??
BTW -I remained short, took some $$ off the table. Will go 'full' short on break of spx 1164. Good trading to all!

Regards,
Gary

Airedale - What spx price would you consider as a break of the lower VTL?

Gary

OT: Chuck - good luck with the surgery. They'll most likely have you up and walking the same day, but wishes, still, for a speedy and uneventful recovery.

Regards,
Gary

OT:PMiles - Welcome back and congratulations on your run.
Just awesome!!!!!!! My knees and feet hurt just with reading the stage descriptions.

Regards,
Gary

Link is on safehaven!

http://www.safehaven.com/article-3040.htm

Gary

Link to Robert McHugh's report. He does/did have a free week offer:

https://www.technicalindicatorindex.com/Default.asp

Gary

Airedale - Well.... I think I have to defend Mr. Robert McHugh here!! I have a copy of the report from McHugh (technicalindicatorindex.com) related to the post you are referring to. The info posted, appears to be out of context (at least in part (lol)).
He has a fibo time window which is currently in play. Going into this time frame he was looking for an interim top OR bottom - he NEVER picked one market direction versus the other or blamed God for the state of the markets (as far as I know!)
He has been basing potential future time frames of tops/bottoms based upon fibo timeframe analysis of prior interrelated tops/bottoms. His invocation of God had to do with 'random' market action versus fibonacci related movement. I do agree that the diatribe relating his fibonacci time-related events with God's 'sense of humor' is over-the-top, but God and any type of blame was left there and not carried into any part of the technical discussion. (He has a free week going and I think he got a bit carried away!)
I note he also has a bible passage at the end of his report - which I can also do without.

BTW - you didn't tell us if you were able to get the you-know-what off your jacket ;>)

Regards,
Gary

Gold - Downmove on Friday appears to be possible start of a wave 3 DOWN! for physical gold. If so then gold will be on its way towards 375 target and HUI probably on its way to ~154 target. This would be expected at this point. Eventually the gold stocks should take the lead, which requires that the divergence between physical gold and the miners be closed. HUI to 150's would also complete a Gantley formation (noted by McHugh). If these targets complete - it will be 'back up the truck' buy time. The 'crash' of the gold stocks of late, has been viewed by some as a harbinger of a general and severe market decline yet to come.
In any event, the correction of physical gold price and closure of the physical/miner divergence should allow both to get back on track to the upside.

Regards,
Gary