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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.

Monday, May 9, 2011

1066

May 11 10:50 am ET:
already have 15 updates for the day.
live real time covered $spx, $indu, $rut, $ndx. code blue macro, and code blue micro, Elliott waves. MT target expectation. also live covered UUP($USD), FXE(Euro), USO(oil), AGQ(silver), GLD(gold), EEM(emerging markets)... all beautiful and perfect! Looking forward T3 to play out as expected.
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1066.6 is 20% from 1346.
QE2 is a transitory joke!

PS. Pelican,
code blue is a pattern, and is for long term, not for short term volatilities. if market makes new highs a few times, code blue still be valid as long as the pattern stays valid. my current focus for medium term is T3, the expectation is much different from past "T", all details updated to private members.

code blue is different from so called P2, P2 already got invalidated as $rut made historical new high. but code blue still good for $rut even if it makes another new historical high, as long as the code blue pattern stays valid.

i see some professional subscriptions and public blogs calling $spx March 16's 1249 as wave 4, and May 2's 1370 as wave 5. how could that be? it's a very apparent 3-wave form from 1249 toward 1370. caling 1370 as wave 5 is a violation of Elliott wave rules and not professional. i have two valid Elliott waves notations as explained to members (not wave 4, 5 from 1249 to 1370).

also some are calling ending diagonal from March 16's bottom, and new high for wave 5 to come.
but imho, that's invalid case also. for ending diagonal, it needs overlapping of wave 1 and wave 4. there is no overlapping for DJIA, even though there is overlapping for $SPX. i see the form is not right either.