Finally a confirmed lower price, at the short term rsi resistance bar....I would look to take it VERY easy on the bullish side next week.
(proposed ew count)
good luck to all
here's an quite alarming video and article on recent insider selling
http://pragcap.com/sold-to-you
Posts
Here's a verbal rehash.
ReplyDeletehttp://www.bloomberg.com/apps/news?pid=20601213&sid=arl3VgxA0FAA&refer=home
Fund managers might sell next week to lock in gains for window dressing.
Great video, thanks, Erik. Daneric has also confirmed a sell signal last Friday entering next week, if not for sure by next Friday. I think that we have over 30% run for the last 3 weeks that all the smart insiders would know best that themselves and the market are definitely not out of the woods. Hard not to take the over 30% profit increase just within the 3 weeks run. I would not be surprised to see a huge sell off entering into the month of May. Take it easy on the bull side as you said. I am with you. Make smart trades continuously to keep safe for all the nice profit that we have made in the last 3 weeks. Maybe a good time to get into SRS.
ReplyDeletethat's good but your black i,ii, and iii need to be changed to a,b,c. not saying a correction would necessarily be over at c since we could see a double three. the nasdaq is at new highs which makes the wave ii very suspect on SPX
ReplyDeleteKenny,
ReplyDeletethank you.
The reason i kept it as i, ii, iii is b/c this weeks movements here, more impulsive pattern than corrective to me, the a,b,c is just meant to sub-divide the ii, which goes along w/ the "corrective part of ii's"
violated if > 875
minimum target 823 (if at least equal to i)
oh crap, the nasdaq again....thank for pointing that out...
ReplyDeletei recall way back when (below 804), how you and danno caught that nasdaq violation, and yep the spx sure did follow through, the same.
thanks for catching that.