there are even better oil systematic analysis than this posted one.
goldman sachs downgrades oil today just in time! welcome.
original on Friday Apr 8, 2011
PS. i see the best trade during code blue is not shorting spx, indu, nasdaq, rut, oil, or financials. it's something else.
PS. it's amazing some so called perma bears are confused on counting 1-2-3-4-5(and don't know how!), and are still looking for upside(range from 1352, 1363, 1380, 1400...)! the same group of people were extremely bearish at mid March bottom & were wrongly looking for wave 3 of 3 plunge or crash! i believe some of them will soon say $spx and nasdaq were truncated wave 5. NO, it's not, it's something else!
small cap $RUT historical new high has CRUSHED so many bears' so called Primary 2, P2. i bet they do not know what's really going on in the elliott wave, and dare not to label $rut's big picture. it's the same as $ndx never made new low on Mar 2009 against the Nov 2008 bottom, that was not a truncation either.
There are 7 waves from Jul 1, 2010 bottom, how could they force to fit with the 1-2-3-4-5?
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.