Replies to post #29502 on ajtj99's Market Pulse

[jjstingray]

I am with you Justa. The wave count supports a nice bounce and I like the wedge breakdown area for a test. That test, in my mind, will determine everything. If the market cannot regain the wedge, we fall hard. If it can regain the wedge, it would be a warning sign to everyone that this rally cannot be ignored.

Nice impulsive structure.
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[w,a]ehclyyay[d20][pf][vc60][ilb14!lb5!lh5,5!li10...


Test
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[w,a]ehclyyay[d63][pf][vc60][ilb14!lb5!lh5,5!li10...

That first gap on the way up is almost equivalent to where the wedge breakdown is. Very nice how that works out.

By the way. Thanks for all your analysis Justa. Don't think I have ever thanked you. You do some good work.

[jrintl]

Justa- By rally, how many % you talking???

[Justa Werkenstiff]

Miners: Solid sell on the goldies; buy on the USD.

[Justa Werkenstiff]

Market: Made my best effort to identify pivot point and turn last week at Ndx 1430 but has not worked out that way as we have moved lower. Looks like the lack of fear softened the proposed rally. I can't be bearish in here despite the decline past my proposed low. I would, however, still like more fear to show itself.