Replies to post #23053 on The Black Box

[was Steve]

what makes this setup so attractive to you?

some of the negative things i see are:

today the spx gave up its horizontal support. not a good thing. the bounce that never comes will probably turn out to be a nice short entry. problem is we keep dropping day after day and no sign of it. if the ndx takes out 1475 which is is almsot assured to do with the 200 dma at 1468, it will create wave overlap with the first wave up from the aug lows. in EW terms that implies the highs are in and the next move up is corrective. things are gettin pretty dicey imo. i remain in my longs as i have for weeks and am donating too much blood