Replies to post #36385 on Short Term Trading Member Forum

[sandeeps]

Forget the waves. Look at MACD and how black line behaves in relation to the red one. Today's action would seem to be a screaming buy for the future.

[Chuck703VA]

Tech....not sure I agree.

I have three live counts shown on my chart 00190, a ninety day NDX chart.

All beginning back in the mid October time frame when wave 3.3 completed.

The CYAN count is the possible Triangle which completed wave 3.4.D yesterday at lod, and then completed a clean fiver to upside which would be wave A of probably zigzag to completed 3.4.E and 3.4. It would finish in neighborhood of the upper CYAN dashed TL which is in the 1350 area and sloping down today.

The GREEN count is a possible expanded flat wave 3.4 which completed wave 3.4.B yesterday at the low of day and then moved higher in a fiver that would serve as A of the 3.4.C wave back up toward the mid 1400s area to complete 3.4.

The ORANGE count is a different view....which presumes the 3.4 wave completed back in mid OCTOBER in a quick three waver up to 1470.99. From there is has traced out a possible ED wave 3.5. ED3 of that wave completed at yesterdays lod, and the subsequent rise is a fiver wave A of the probable zig zag that would form ED4. ED4 could end anywhere below the dashed ORANGE TL shown approximately parrallel to the lower ORANGE TL connecting the orange ED1 and ED3 points.

Those three counts are shown on chart 00190, the ninety day NDX chart on my pub charts.

I am expecting a zig zag correction this morning which is in progress and then a return to the upmove.

The range of the upmove is dependent on which of those three counts is happening.

The 3.5 ED could complete anywhere between here and 1350 followed by a return to the lower TL to complete the ED and 3.5 and that would be followed by larger waves 4 up, and 5 to the South.

The Triangle could complete around the 1350, TL sloping down as time goes by, and then should break out below the lower TL in wave 3.5. That would be followed by larger waves 4 up, and 5 to the South.

The Expanded flat could complete between here and 1400's before it is followed by 3.5 to the South. That would be followed by larger waves 4 up, and 5 to the South.

In summary, we still need to complete a fifth wave of wave 3 down. That will be followed by the larger 4th up and then larger 5th wave down. IMHO, THE LOW is NOT IN yet.

This is long post, I hope I didn't screw it up.....and these three possibilities don't cover the waterfront.