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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 23, 2011

running flat Wave 2

running flat of the red wave 2 has completed on last Thursday May 19 with the typical green pitch fork and the "black curve" and ...
the same techniques applied to $rut and $indu.
all presented to members during intraday update on last Thursday May 19.
extremely important MT, LT patterns, roadmap and analysis are developing and proceeding well as presented to members.

PS. today i still see people posting bearish counts with "a series of 1's and 2's", "leading diagonal";
if it's "a series of 1's and 2's", would be the weakest ones since Oct 2007's $spx all time high. "leading diagonal" also is invalid form due to current shape and pattern.
people also post bullish views with new highs with "ending digonal", "expanding triangle diagonal", "corrective traingle".
imho, these are all invalid in terms of Elliott wave.

bulls(even some bears) are still trying to buy the dips? no thanks. i am very bearish, i see the pattern rhythm well with two most bearish historical developements. it's in the initial stage, but could heat up pretty fast.