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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.

Wednesday, October 26, 2011

some charts from intraday real time updates

plus short term and medium term updates.
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from yesterday market close update:
<< both volume indicator and ST fear factor have a potential bullish set up for as soon as tomorrow.
my "guess" is market rally tomorrow.

one question about some bears' 78.6% retrace target for wave 2 of P3 for $spx:
the wave 2 retrace for P1 during year 2008 is less than 61.8%,
P3 is supposed to be a killer wave, and should wave 2 of P3 retrace be higher and stronger than P1's wave 2 retrace?
i believe the usual impression is P3 should be much more powerful than P1, and P3 retrace should be weaker than P1's retrace.
unless current P3 assumption is totally wrong (again)? something to think about.
i believe i have the answer, and it's not a new bull market as some bulls' wrong wish (again).