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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Sunday, April 17, 2011

humblestud​​ent membership Apr 17, 2011 weekend report - Part I

PS. Apr 18 16:30pm.
so far so good, all work as planned as weekend comprehensive report.

Hi, Linus, thanks.
the minute chart is micro term chart for intraday private member update, there are plenty of sites doing the day trading updates. i am more on the strategy, medium and intermediate and long term with critical analysis. my 28 pages weekend report detailed all time frames analysis and strategy for MT and LT. i do not see others have this kind of weekend broad and in depth analysis. plus, i have daily updates.
my initial well calculated MT $spx downside price target with at least two methods updated to private members and active key members. after the target reached. market could have a MT bounce from there. nothing moving straight line. if one read my report and daily update, should not be surprised what's coming and could know what's to be expected.

Pelican, good to hear from you. please don't be a stranger as i send out reports to active key members (active on blog and/or email) from time to time.

PS. Apr 18 12:30pm ET: i see this weekend report plus previous code blue report could be good for a long while, good for medium, intermediate and long term.

Apr 18 10am ET: all my analysis in the weekend comprehensive 28 pages report are strikingly correct in all time frames. so is the code blue report issued previous weekend. medium term and intermediate term targets looking good. even short term analysis and targets are perfect.

Following posted is only Part I of the weekend report. imho, Part II and Part III are much better in depth of coverage and quality of the critical analysis. Total report is 28 pages. let me know if you are interested in joining the private membership to receive the whole weekend report and daily intraday extensive market updates, and daily market close report.

On Friday’s Apr 15, 2011’s market close update, I presented expanded flat wave 2 retrace for $spx and $indu:
“there is a more bearish case of both $spx and $indu already completed their wave 2 retrace today with expanded flat, and broke their green trend channel. if true, next week should sell hard.”

After further review, I believe wave 2 with expanded flat highly likely is the case. Mr. Robert Prechter’s “Elliott Wave Principle” and majority of people using Elliott wave say expanding triangle diagonal and expanded flat are rare Elliott wave patterns. But it’s my experience that market loves the word “expand” with expanding and expanded Elliott wave patterns nearly everywhere from micro to macro time frames, just they are much harder to be identified and market like to confuse majority of people. I have presented many times the expanding triangle diagonal pattern for all major and sub-major indexes from the time frame of Jan to Feb 18, 2011 top. Following two charts of $spx and $indu present short term Elliott wave pattern with both expanding triangle diagonal and expanded flat patterns.

The entire market structure of all major and sub-major indexes since the beginning of Jan 2011 are presented as follow, the macro patterns of some relative strength indexes are again with expanding triangle diagonal and expanded flat Elliott wave patterns. The relative weaker ones are regular flat pattern.

$spx is with a macro expanding triangle diagonal followed with a regular flat.

$indu is with a macro expanding triangle diagonal followed with an expanded flat.

$compq is with a macro expanding triangle diagonal followed with a regular flat.

$rut is with a macro expanding triangle diagonal followed with an expanded flat.

$djusfn is with a macro expanding triangle diagonal followed with a regular flat.

Now, further expand the expanded Elliott wave structure into the big picture to Nov 2008 ~ Mar 2009 market bottom on $spx, $indu, $rut.

As can be seen on above charts, recent Feb 18 to Apr 6, 2011 patterns of either expanded flat or regular flat Elliott wave structure rhythm well in a mirror image fashion with Nov 21, 2008 to Mar 9, 2009’s pattern.

At the end of this part I report, an example of R.N. Elliott’s “irregular flat” (or called “expanded flat”) is provided.