Replies to post #36329 on Short Term Trading Member Forum

[SilentOne]

"Wave 3 of 3 of 3 of C Started"

We are more likely in a 4th wave of a large third wave down or in a 5th wave down. Today marks an astro turn which could have marked the high yesterday. If so, markets slide lower into Dec. in a 5th of of this large wave 3 leg down. I think Prechter at EWI has the same take.

After a large 4th wave (primary degree), the $SPX could well see 600 next year. JMHOC.

cheers,

john

The $SPX has fallen almost 500 points from the early summer highs. A 3-3-3 would imply a measured move of similar size pointing to $SPX 450. I won't say it can't happen given the year gone by. But it is unlikely.

[SilverSurfer]

SPY and SSO chart show double bottom as well as inverted head and shoulder pattern. We shall overcome?

[Chuck703VA]

One mans opinion on NDX.....

I am seeing a small ed to complete the downmove at low of day.

It's doing the "thursday" thing now imo.

This should complete wave 3.4.c.b with the C wave up to complete 3.4 now before we head down in wave 3.5.

I see this rising perhaps as far as 1450 before that turn down.

JMHO