Short Term Trading Member Forum

[techcharter]

Recalibrating SPX and INDU E-wave counts

I'm starting the Ending Diagonal from the February 2014 lows instead of the October 2013 lows. The market is not behaving like a post ending diagonal based on the October 2013 lows. The good news is target time is 5 to 8 trading days away for both markets.
SPX price target 1910.
INDU price target 16743.

Targets are based on time and price ratios of wave 3 to wave 1 and then using those ratios to project wave 5 price and time targets.


Other TA:

The VIX is at lows not seen since EARLY 2007. At the 2007 top price the VIX had been rising for 8 months, a divergence. Presently there is no "divergence".

Volumes speaks volumes. Over the last month daily volume has decreased >40% on rising price. This is a significant divergence.

When looking at the SPX, Volume, and VIX, in this rising market participants are choosing options over outright purchase of shares. This is a highly leveraged situation!!!