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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.

Tuesday, February 7, 2012

$indu made a new 3.5 years high

above 2011 high, it's not so called minor 2 of P2 that many bears referring to.
i never like or adopt these called P2 convention. imho, P2 is a totally wrong failed structure when prechter and ewi introduced during 2009, and will continue to be a wrong structure when market come down, and will definitely cause lots elliott wave counting and labeling problems in the coming years. it's not a long term bull market, but people amazingly wrongly stick to the wrong P2 structure for so long. i don't think prechter and ewi know how to count the elliott wave for DOW, a total P2 structure failure for them.

$indu, with intermediate term bearish divergence, not a new bull market, is on the terminating wave pattern which i updated during Aug 4 ~ Oct 27, 2011.

this pattern chart will be posted later after pattern confirmed completion with cycle. (all already updated to members). so to be fair to members.

me, no bull.