S&P Suckers rally?

[soylent]

Hi all --

OK, so here's my view on S&P (ES / $spx).

While AGET hasn't labeled it yet, it looks like we are in a 1/2 coming off a weakened wave 5?

If I drop an ellipse, it shows a potential re-trace and gives a nice trend for a fork for the wave 3.

Any thoughts on this? Have I done anything wrong?

Thanks all!

[Gavishti]

My guess is that we are completing the fourth wave of a C that started Monday. Will have to see if we get the bounce this morning. If this is correct it should be a long ride down from the top later today or tomorrow.

[soylent]

Hi Gavishti --

Thanks -- I agree. I'm looking for a rally today and sell off. Today / maybe tomorrow.

Your thoughts on QQQ are holding true. If we can jump .50, we will reach the target for the next selloff...

-c

[Gavishti]

Yesterday's high breached my DJ target by 3 points. If we don't get a bounce up today then I figure that yesterday completed a wave 4 up. One thing to keep in mind is that 5s don't have to reach the level of the 3. It is infrequent, but a possibility.