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fib_1618

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Reply with quote  #1 
2012-04-17 16:00:05 [Message] fib_1618 -> Chat: good day
2012-04-17 16:00:07 [Message] fib_1618 -> Chat: how is everyone?
2012-04-17 16:00:31 [Message] EricD -> Chat: Hi Dave
2012-04-17 16:00:46 [Message] fib_1618 -> Chat: How's it going my friend?
2012-04-17 16:01:08 [Message] EricD -> Chat: Good and you?
2012-04-17 16:01:23 [Message] fib_1618 -> Chat: excellente'
2012-04-17 16:01:31 [Message] fib_1618 -> Chat: no complaints
2012-04-17 16:01:40 [Message] fib_1618 -> Chat: and if I had some...who would listen anyway? :)
2012-04-17 16:01:57 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2012-04-17 16:03:06 [Message] fib_1618 -> Chat: Lew...did you see my count?
2012-04-17 16:04:00 [Message] thespookyone -> Chat: Perfect
2012-04-17 16:04:36 [Message] thespookyone -> Chat: you even abide by the rules, LOL
2012-04-17 16:04:36 [Message] fib_1618 -> Chat: :)
2012-04-17 16:05:19 [Message] fib_1618 -> Chat: OK..if there's nothing else...let me get DP up and we'll get started
2012-04-17 16:06:09 [Message] fib_1618 -> Chat: after taking a brief rest on Friday with the ISEE at 150 on Thursday
2012-04-17 16:06:11 [Message] thespookyone -> Chat: I gave same count to my room-but liked your use of indicators better than mine
2012-04-17 16:06:28 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO has now fully snapped back to its zero line
2012-04-17 16:06:40 [Message] fib_1618 -> Chat: feel free to use the chart is you wish
2012-04-17 16:06:53 [Message] thespookyone -> Chat: thanks
2012-04-17 16:06:56 [Message] fib_1618 -> Chat: np
2012-04-17 16:07:08 [Message] fib_1618 -> Chat: and we closed today with a +7 reading
2012-04-17 16:07:13 [Message] fib_1618 -> Chat: more importantly
2012-04-17 16:07:35 [Message] fib_1618 -> Chat: we also closed above the small reaction highs seen at the beginning of the month
2012-04-17 16:08:03 [Message] fib_1618 -> Chat: this could, not should, but could suggest that we are now locked in a trading range
2012-04-17 16:08:29 [Message] fib_1618 -> Chat: the should will come on whether the composite NYSE breadth MCO was able to take out this same high or not
2012-04-17 16:08:33 [Message] fib_1618 -> Chat: before we get to that
2012-04-17 16:09:07 [Message] fib_1618 -> Chat: we see that the 10% component has also fully snapped back to its zero line as well
2012-04-17 16:09:23 [Message] fib_1618 -> Chat: so the minimal expectation that we were looking for on Thursday has now been met
2012-04-17 16:09:42 [Message] fib_1618 -> Chat: and where continued choppy behavior might be seen over the next day or so
2012-04-17 16:09:49 [Message] fib_1618 -> Chat: remembering from our last chat
2012-04-17 16:10:20 [Message] fib_1618 -> Chat: that the market loves to blow out as many front month option buyers it can before showing its hand to one and all
2012-04-17 16:11:00 [Message] fib_1618 -> Chat: so the rest of this week should continue choppy giving both sides some time to "hope" that their trades won't expire worthless
2012-04-17 16:11:14 [Message] fib_1618 -> Chat: but will likely do so on both sides
2012-04-17 16:11:22 [Message] thespookyone -> Chat: are we starting a ledge or fishhook here?
2012-04-17 16:11:34 [Message] fib_1618 -> Chat: looking at the CO NYSE breadth MCSUM
2012-04-17 16:11:42 [Message] fib_1618 -> Chat: and we see that with today's higher close on the MCO
2012-04-17 16:11:47 [Message] fib_1618 -> Chat: we also closed higher on the MCSUM
2012-04-17 16:12:12 [Message] fib_1618 -> Chat: but the overall feel here is to look for a ledge pattern
2012-04-17 16:12:30 [Message] fib_1618 -> Chat: and where from there we will see our ultimate lows in the MCSUM sometime in the next couple of weeks
2012-04-17 16:12:46 [Message] fib_1618 -> Chat: moving to the composite
2012-04-17 16:13:04 [Message] fib_1618 -> Chat: and we didn't have enough to push the NYSE breadth MCO not only above its zero line
2012-04-17 16:13:18 [Message] fib_1618 -> Chat: but we also didn't take out the early month highs as well
2012-04-17 16:13:35 [Message] fib_1618 -> Chat: so this would still allow for a challenge of last Tuesday's price lows
2012-04-17 16:14:00 [Message] fib_1618 -> Chat: but any move above the zero line from here
2012-04-17 16:14:17 [Message] fib_1618 -> Chat: which would also be above the the series of tops seen near the zero line
2012-04-17 16:14:29 [Message] fib_1618 -> Chat: would pretty much keep us in a trading range for the rest of the correction
2012-04-17 16:14:45 [Message] fib_1618 -> Chat: and making it one of "time" than of "price"
2012-04-17 16:15:06 [Message] fib_1618 -> Chat: looking at the components here
2012-04-17 16:15:17 [Message] fib_1618 -> Chat: and we did generate a crossover buy signal today
2012-04-17 16:15:26 [Message] fib_1618 -> Chat: but with the MCO itself still below its zero line
2012-04-17 16:15:36 [Message] fib_1618 -> Chat: we remain in corrective behavior
2012-04-17 16:15:52 [Message] fib_1618 -> Chat: where the sellers have pretty much given up on any further chance of price decay
2012-04-17 16:15:56 [Message] fib_1618 -> Chat: in other words
2012-04-17 16:16:16 [Message] fib_1618 -> Chat: the pendulum has now fully swung back to where it was last Friday
2012-04-17 16:16:26 [Message] fib_1618 -> Chat: and we remain neutral overall
2012-04-17 16:16:38 [Message] fib_1618 -> Chat: with one side about to take near term control of the action
2012-04-17 16:16:59 [Message] fib_1618 -> Chat: snapback to the NASDAQ breadth MCO zero line also complete today
2012-04-17 16:17:22 [Message] fib_1618 -> Chat: and we can see the NASDAQ breadth MCSUM now starting to curl to the upside here
2012-04-17 16:17:33 [Message] fib_1618 -> Chat: the best thing that could happen here for the bulls
2012-04-17 16:17:42 [Message] fib_1618 -> Chat: is for some sort of hesitation in the MCSUM to take place
2012-04-17 16:17:50 [Message] fib_1618 -> Chat: either a ledge or fishhook
2012-04-17 16:18:06 [Message] fib_1618 -> Chat: and from there we have one more shake out to rid the market of the rest of the weak hands
2012-04-17 16:18:26 [Message] fib_1618 -> Chat: and drive up the negative sentiment needed to construct a new wall of worry
2012-04-17 16:18:38 [Message] fib_1618 -> Chat: and we should be then good to go for the next market advance
2012-04-17 16:19:28 [Message] thespookyone -> Chat: by nature, in a zigzag, the next low would only be marginal anyway, no?
2012-04-17 16:19:29 [Message] fib_1618 -> Chat: so it shouldn't be surprising if the old ace in the hole, Europe, is once again used to keep the majority from recognizing any implied strength that might come in here over the next week or so
2012-04-17 16:19:35 [Message] fib_1618 -> Chat: well..
2012-04-17 16:19:39 [Message] fib_1618 -> Chat: we have 3 targets
2012-04-17 16:19:43 [Message] fib_1618 -> Chat: we have A=C
2012-04-17 16:20:03 [Message] fib_1618 -> Chat: we have A x .618 from the high of B
2012-04-17 16:20:20 [Message] fib_1618 -> Chat: or we have A x 1.618 from the high of B to work with
2012-04-17 16:20:36 [Message] fib_1618 -> Chat: most Elliott zigzags tend to work with equality
2012-04-17 16:20:55 [Message] fib_1618 -> Chat: but the last couple of days of fine tuning the current count
2012-04-17 16:21:12 [Message] fib_1618 -> Chat: has shown shallower .618 targets for C
2012-04-17 16:21:22 [Message] fib_1618 -> Chat: and 1.618 or 2.618 x the length of wave 1
2012-04-17 16:21:33 [Message] fib_1618 -> Chat: so the overall rhythm here is bullish for the count
2012-04-17 16:21:47 [Message] fib_1618 -> Chat: as we're pulling up short when moving south
2012-04-17 16:21:52 [Message] fib_1618 -> Chat: and extending while moving north
2012-04-17 16:21:55 [Message] fib_1618 -> Chat: for example
2012-04-17 16:22:08 [Message] fib_1618 -> Chat: today's rally was about 2.618 the length of yesterday's wave 1
2012-04-17 16:22:16 [Message] fib_1618 -> Chat: at about 1392
2012-04-17 16:22:21 [Message] fib_1618 -> Chat: and so the timing of the afternoon post
2012-04-17 16:22:27 [Message] fib_1618 -> Chat: and we didn't move any higher
2012-04-17 16:22:37 [Message] fib_1618 -> Chat: if we do...then something else is going on
2012-04-17 16:22:44 [Message] fib_1618 -> Chat: but with the MCO's just getting to their zero lines
2012-04-17 16:22:59 [Message] fib_1618 -> Chat: it's unlikely it's anything more than a counter trend correctional zigzag
2012-04-17 16:23:09 [Message] fib_1618 -> Chat: plus the Hist MACD is confirming this so far
2012-04-17 16:23:26 [Message] fib_1618 -> Chat: and the 5 period RSI should diverge with wave (5)
2012-04-17 16:23:40 [Message] thespookyone -> Chat: cool
2012-04-17 16:23:48 [Message] fib_1618 -> Chat: anyway...all in a perfect Elliott world, of course
2012-04-17 16:24:02 [Message] thespookyone -> Chat: so far-so good
2012-04-17 16:24:14 [Message] fib_1618 -> Chat: but it sure makes better sense than any impulsive move to the downside
2012-04-17 16:24:30 [Message] thespookyone -> Chat: OH YEA
2012-04-17 16:24:35 [Message] fib_1618 -> Chat: anyway...back to breadth
2012-04-17 16:25:05 [Message] fib_1618 -> Chat: to finish up for a moment on the thought
2012-04-17 16:25:12 [Message] fib_1618 -> Chat: if this is (4) of Y of B
2012-04-17 16:25:18 [Message] fib_1618 -> Chat: then the MCO should move lower tomorrow
2012-04-17 16:25:31 [Message] fib_1618 -> Chat: and then diverge a bit when we move to wave (5)
2012-04-17 16:25:46 [Message] fib_1618 -> Chat: and then a deeper retracement will get started
2012-04-17 16:26:03 [Message] fib_1618 -> Chat: which would be part of constructing our texture needed to form a bottom
2012-04-17 16:26:27 [Message] fib_1618 -> Chat: and Friday's pullback gave us our first indication of this texture that we need
2012-04-17 16:26:39 [Message] fib_1618 -> Chat: as it would had been a slightly different story if we just continued to the zero line
2012-04-17 16:26:45 [Message] fib_1618 -> Chat: but we rested instead
2012-04-17 16:27:07 [Message] fib_1618 -> Chat: after moving as sharply as we did on Wednesday, and especially on Thursday
2012-04-17 16:27:14 [Message] fib_1618 -> Chat: so far, so good
2012-04-17 16:27:31 [Message] fib_1618 -> Chat: moving to the NDX breadth MCO
2012-04-17 16:27:39 [Message] fib_1618 -> Chat: and we see that it also moved higher today
2012-04-17 16:27:50 [Message] fib_1618 -> Chat: and it now has a reading of -5
2012-04-17 16:28:00 [Message] fib_1618 -> Chat: which is good enough for a zero line snapback
2012-04-17 16:28:12 [Message] fib_1618 -> Chat: looking at the components
2012-04-17 16:28:23 [Message] fib_1618 -> Chat: and we also generated a crossover buy signal today
2012-04-17 16:28:30 [Message] fib_1618 -> Chat: what this would mean to those who are new here
2012-04-17 16:28:55 [Message] fib_1618 -> Chat: is that the 19 day EMA is now moving at a faster speed (in this case higher) than the 39 day EMA
2012-04-17 16:29:31 [Message] fib_1618 -> Chat: what this then tells us is that the amplitude of  money coming in at this time is moving at a more robust speed than it was before
2012-04-17 16:29:47 [Message] fib_1618 -> Chat: and this then tells us who has better control of this same directional push
2012-04-17 16:29:51 [Message] fib_1618 -> Chat: in this case....the bulls
2012-04-17 16:29:53 [Message] fib_1618 -> Chat: now
2012-04-17 16:30:14 [Message] fib_1618 -> Chat: it could be because that the bulls are swamping the bears here between matching up buys and sells
2012-04-17 16:30:29 [Message] fib_1618 -> Chat: or it could be that there is fewer sellers which accentuate the buyers
2012-04-17 16:30:44 [Message] fib_1618 -> Chat: one really doesn't know the factors in involved on first look
2012-04-17 16:30:49 [Message] fib_1618 -> Chat: but the bottom line is
2012-04-17 16:31:13 [Message] fib_1618 -> Chat: that there's enough of this same buying now to halt any momentum the sellers might had had previously
2012-04-17 16:31:27 [Message] fib_1618 -> Chat: and that the path of least resistance now sides with the bulls
2012-04-17 16:31:43 [Message] fib_1618 -> Chat: and that means that any surprises that might occur will tend to be with this same side
2012-04-17 16:31:49 [Message] fib_1618 -> Chat: so...no crashes
2012-04-17 16:31:54 [Message] fib_1618 -> Chat: or changes in trend
2012-04-17 16:32:01 [Message] fib_1618 -> Chat: we remain...corrective
2012-04-17 16:32:54 [Message] fib_1618 -> Chat: it's this kind of analytical proof that gives you confidence to decide which kind of trade would give the better probability to outcome ratio before executing the trade itself
2012-04-17 16:32:59 [Message] fib_1618 -> Chat: in this specific case
2012-04-17 16:33:06 [Message] fib_1618 -> Chat: if there is another pullback
2012-04-17 16:33:21 [Message] fib_1618 -> Chat: it will tend to shallower both in price and time than the one we saw on Friday
2012-04-17 16:33:25 [Message] fib_1618 -> Chat: with all things being equal
2012-04-17 16:33:37 [Message] fib_1618 -> Chat: and that's important information that you can use in all time periods
2012-04-17 16:34:01 [Message] fib_1618 -> Chat: the SPX breadth MCO is slightly back above its zero line as well
2012-04-17 16:34:17 [Message] fib_1618 -> Chat: but remains below its early April high point
2012-04-17 16:34:36 [Message] fib_1618 -> Chat: what would lock in the idea of a corrective trading range here
2012-04-17 16:34:50 [Message] fib_1618 -> Chat: would be our taking out this same early April peak in all of the MCO's
2012-04-17 16:35:14 [Message] fib_1618 -> Chat: as it would take more energy to do so compared to the technical breakdown that happened previously
2012-04-17 16:35:34 [Message] fib_1618 -> Chat: and it would bring internal balance to the marketplace if this would occur
2012-04-17 16:35:40 [Message] fib_1618 -> Chat: so, for the bears
2012-04-17 16:35:50 [Message] fib_1618 -> Chat: you don't want to see this same level taken out
2012-04-17 16:35:55 [Message] fib_1618 -> Chat: for as long as it isn't
2012-04-17 16:36:12 [Message] fib_1618 -> Chat: then you still have a chance of moving to lower lows than those seen last week
2012-04-17 16:36:22 [Message] fib_1618 -> Chat: but if we take it out...
2012-04-17 16:36:55 [Message] fib_1618 -> Chat: a new plan of attack must then be considered for you wouldn't have the fire power to challenge, or even move below, these same flag lows
2012-04-17 16:37:04 [Message] fib_1618 -> Chat: we all have to remember
2012-04-17 16:37:16 [Message] fib_1618 -> Chat: that liquidity levels remain quite ample here
2012-04-17 16:37:48 [Message] fib_1618 -> Chat: and they will absorb any punishing blows of which may ambush the market here in its effort to find a bottom
2012-04-17 16:37:54 [Message] thespookyone -> Chat: might that be the tell for the .618 vs equality?
2012-04-17 16:38:04 [Message] fib_1618 -> Chat: yes...very much so
2012-04-17 16:38:09 [Message] thespookyone -> Chat: thx
2012-04-17 16:38:19 [Message] fib_1618 -> Chat: the .618 retracement would suggest more strength of pattern
2012-04-17 16:38:29 [Message] fib_1618 -> Chat: equality would suggest average strength
2012-04-17 16:38:32 [Message] thespookyone -> Chat: man, this is soooo good!
2012-04-17 16:38:42 [Message] fib_1618 -> Chat: 1.618 would imply more weakness
2012-04-17 16:38:55 [Message] fib_1618 -> Chat: or a larger lack of a liquidity cushion
2012-04-17 16:39:05 [Message] fib_1618 -> Chat: it's very important here to remember
2012-04-17 16:39:23 [Message] fib_1618 -> Chat: that every correction we've had so far since the 2009 lows have not been because of a lack of liquidity
2012-04-17 16:39:34 [Message] fib_1618 -> Chat: even Helen Keller would know this :)
2012-04-17 16:39:48 [Message] fib_1618 -> Chat: and as long as monetary policies remain fluid
2012-04-17 16:40:11 [Message] fib_1618 -> Chat: and the cost of money remains at levels that one could call very small
2012-04-17 16:40:34 [Message] fib_1618 -> Chat: that sloshing you hear is really money just shifting to other areas of investment
2012-04-17 16:40:38 [Message] fib_1618 -> Chat: and NOT moving out of the market
2012-04-17 16:40:46 [Message] fib_1618 -> Chat: as equities remain undervalued
2012-04-17 16:40:52 [Message] fib_1618 -> Chat: besides
2012-04-17 16:41:06 [Message] fib_1618 -> Chat: we still have the the rest of QE2 still coming in here
2012-04-17 16:41:16 [Message] fib_1618 -> Chat: how long did the policy last?
2012-04-17 16:41:29 [Message] fib_1618 -> Chat: I think it was October of 2010 to June of 2011?
2012-04-17 16:41:36 [Message] fib_1618 -> Chat: so if we take this out 18 months
2012-04-17 16:41:38 [Message] fib_1618 -> Chat: let's see
2012-04-17 16:41:41 [Message] fib_1618 -> Chat: carry the 3
2012-04-17 16:41:44 [Message] fib_1618 -> Chat: add the 2...
2012-04-17 16:42:12 [Message] fib_1618 -> Chat:  October 2010 would project 18 months to April
2012-04-17 16:42:13 [Message] fib_1618 -> Chat: now
2012-04-17 16:42:27 [Message] fib_1618 -> Chat: so, in essence, we're just getting started
2012-04-17 16:42:33 [Message] fib_1618 -> Chat: even if we allow a 3 month window
2012-04-17 16:42:42 [Message] fib_1618 -> Chat: let's say for the sake of discussion
2012-04-17 16:42:51 [Message] fib_1618 -> Chat: that it started hitting the market in January
2012-04-17 16:43:05 [Message] fib_1618 -> Chat: seven months from January is July
2012-04-17 16:43:13 [Message] fib_1618 -> Chat: so, in theory
2012-04-17 16:43:21 [Message] fib_1618 -> Chat: we are only taking a breather here
2012-04-17 16:43:26 [Message] fib_1618 -> Chat: and once this is out of the way
2012-04-17 16:43:36 [Message] fib_1618 -> Chat: we're going to have another sharp advance into the summer
2012-04-17 16:43:59 [Message] fib_1618 -> Chat: the key here is to watch the Bond CEF A/D line that is posted each weekend
2012-04-17 16:44:10 [Message] fib_1618 -> Chat: as long as this A/D line continues to make higher highs
2012-04-17 16:44:32 [Message] fib_1618 -> Chat: it PROMISES us of higher equity prices in the not too distant future
2012-04-17 16:44:41 [Message] fib_1618 -> Chat: and when it tops out
2012-04-17 16:45:01 [Message] fib_1618 -> Chat: we usually have 2-3 months before equities start to feel any pinch
2012-04-17 16:45:12 [Message] fib_1618 -> Chat: above all else
2012-04-17 16:45:21 [Message] fib_1618 -> Chat: if you're looking for a reason why
2012-04-17 16:45:27 [Message] fib_1618 -> Chat: when all the news is perceived as bad
2012-04-17 16:45:39 [Message] fib_1618 -> Chat: that market prices can still continue to move higher
2012-04-17 16:45:42 [Message] fib_1618 -> Chat: THIS is your reason
2012-04-17 16:46:10 [Message] fib_1618 -> Chat: it has nothing at all to do with someone standing behind a curtain and flipping switches
2012-04-17 16:46:15 [Message] fib_1618 -> Chat: this is a fantasy
2012-04-17 16:46:26 [Message] fib_1618 -> Chat: it does have to do with monetary policy
2012-04-17 16:46:39 [Message] fib_1618 -> Chat: and unlike what we have worked with for decades before
2012-04-17 16:46:46 [Message] fib_1618 -> Chat: a lot of this has changed in the last 10 years
2012-04-17 16:46:55 [Message] fib_1618 -> Chat: not only are you working with US policy here
2012-04-17 16:47:06 [Message] fib_1618 -> Chat: but you're working with two policy makers in Europe
2012-04-17 16:47:08 [Message] fib_1618 -> Chat: in China
2012-04-17 16:47:18 [Message] fib_1618 -> Chat: in Japan
2012-04-17 16:47:24 [Message] fib_1618 -> Chat: it's global now
2012-04-17 16:47:52 [Message] fib_1618 -> Chat: and though with this same fire power they can't actually move markets to their bias
2012-04-17 16:48:11 [Message] fib_1618 -> Chat: they can provide the ammunition to push markets to their way of thinking
2012-04-17 16:48:14 [Message] fib_1618 -> Chat: or at the same time
2012-04-17 16:48:36 [Message] fib_1618 -> Chat: removing this same ammunition to get a different desired result
2012-04-17 16:48:41 [Message] fib_1618 -> Chat: in the meantime
2012-04-17 16:48:43 [Message] fib_1618 -> Chat: technically
2012-04-17 16:49:02 [Message] fib_1618 -> Chat: we have met our upside objective given last Tuesday when there was no hope
2012-04-17 16:49:08 [Message] fib_1618 -> Chat: and now
2012-04-17 16:49:24 [Message] fib_1618 -> Chat: we look to see what the next plan of attack here is likely to be
2012-04-17 16:49:27 [Message] fib_1618 -> Chat: what we do know is
2012-04-17 16:49:33 [Message] fib_1618 -> Chat: we're very likely to back and fill here
2012-04-17 16:49:41 [Message] fib_1618 -> Chat: the question now being answered though
2012-04-17 16:49:56 [Message] fib_1618 -> Chat: is how deeply we need to dig
2012-04-17 16:50:00 [Message] thespookyone -> Chat: mco lows likely in=to then be divergent at the bottom?
2012-04-17 16:50:09 [Message] fib_1618 -> Chat: and this should be answered by Thursday
2012-04-17 16:50:15 [Message] fib_1618 -> Chat: it could be
2012-04-17 16:50:21 [Message] fib_1618 -> Chat: but if it's a trading range
2012-04-17 16:50:26 [Message] fib_1618 -> Chat: all we need are bottoms above bottoms
2012-04-17 16:50:34 [Message] fib_1618 -> Chat: divergence is not that important
2012-04-17 16:50:40 [Message] fib_1618 -> Chat: the underlying cadence is
2012-04-17 16:51:02 [Message] fib_1618 -> Chat: each sell off should be met with less and less issues participating
2012-04-17 16:51:23 [Message] fib_1618 -> Chat: whether this turns out to be lower lows in a weighted index or not is anyone's guess
2012-04-17 16:51:46 [Message] fib_1618 -> Chat: this is why we watch breadth plurality over what price is attempting to convince you otherwise
2012-04-17 16:51:58 [Message] fib_1618 -> Chat: breadth leads price
2012-04-17 16:52:11 [Message] fib_1618 -> Chat: price is NOT the end all here
2012-04-17 16:52:37 [Message] fib_1618 -> Chat: it is the result of what is being generated underneath that counts
2012-04-17 16:52:59 [Message] fib_1618 -> Chat: this is why it was important for the bulls to show texture from the flag lows of last Tuesday
2012-04-17 16:53:10 [Message] fib_1618 -> Chat: and the strength we saw into Thursday
2012-04-17 16:53:20 [Message] fib_1618 -> Chat: then highly suggested that there was a flag being created
2012-04-17 16:53:46 [Message] fib_1618 -> Chat: with the little thing of breaking above many blip resistance areas the key in this understanding
2012-04-17 16:53:56 [Message] fib_1618 -> Chat: it's always whispers
2012-04-17 16:54:09 [Message] fib_1618 -> Chat: the market generally doesn't yell out a change in direction
2012-04-17 16:54:13 [Message] fib_1618 -> Chat: it whispers it
2012-04-17 16:54:27 [Message] fib_1618 -> Chat: sort of like what was going on prior to the technical breakdown on 3/29
2012-04-17 16:54:35 [Message] thespookyone -> Chat: I love the nuance-it keeps the bus light
2012-04-17 16:54:51 [Message] fib_1618 -> Chat: yea...but at the same time...its very important information
2012-04-17 16:54:58 [Message] fib_1618 -> Chat: there is discipline here
2012-04-17 16:55:04 [Message] fib_1618 -> Chat: that must be reasonable
2012-04-17 16:55:08 [Message] fib_1618 -> Chat: and above all else
2012-04-17 16:55:15 [Message] fib_1618 -> Chat: make good analytical sense
2012-04-17 16:55:19 [Message] fib_1618 -> Chat: because
2012-04-17 16:55:23 [Message] fib_1618 -> Chat: without this structure
2012-04-17 16:55:36 [Message] fib_1618 -> Chat: we would be pulled into anything that grips our emotions
2012-04-17 16:55:46 [Message] fib_1618 -> Chat: and then we make mistakes
2012-04-17 16:55:56 [Message] fib_1618 -> Chat: and mistakes turn into hope
2012-04-17 16:56:09 [Message] fib_1618 -> Chat: and hope turns into losses
2012-04-17 16:56:26 [Message] fib_1618 -> Chat: our primarily objective is to beat the market
2012-04-17 16:56:36 [Message] fib_1618 -> Chat: and the only way to do that
2012-04-17 16:57:09 [Message] fib_1618 -> Chat: is that you have to respect what it tells you and act on it without thinking that, somehow, it doesn't know what it's doing
2012-04-17 16:57:15 [Message] fib_1618 -> Chat: or that it doesn't know what YOU know...
2012-04-17 16:57:21 [Message] fib_1618 -> Chat: poppycock
2012-04-17 16:57:25 [Message] fib_1618 -> Chat: rubbish
2012-04-17 16:57:36 [Message] fib_1618 -> Chat: the market is far bigger than any of us
2012-04-17 16:57:52 [Message] fib_1618 -> Chat: it is far bigger than the combined effort of every country on this planet
2012-04-17 16:58:01 [Message] fib_1618 -> Chat: it must be respected
2012-04-17 16:58:13 [Message] fib_1618 -> Chat: and you leave the why's for someone else to figure out
2012-04-17 16:58:23 [Message] fib_1618 -> Chat: all will be known eventually
2012-04-17 16:58:35 [Message] fib_1618 -> Chat: but at that point...so will everyone else
2012-04-17 16:59:09 [Message] fib_1618 -> Chat: and your probability of making money off this same information is only fractionally better than when the market told you long before to just play follow the leader
2012-04-17 16:59:33 [Message] fib_1618 -> Chat: so much for philosophy...let's move on
2012-04-17 16:59:50 [Message] fib_1618 -> Chat: the OEX breadth MCO is also slightly above its zero line now
2012-04-17 16:59:56 [Message] fib_1618 -> Chat: and like we were talking about last Thursday
2012-04-17 17:00:09 [Message] fib_1618 -> Chat: the OEX breadth MCSUM has now met with the +250 level
2012-04-17 17:00:19 [Message] fib_1618 -> Chat: and is attempting to find support at this same level
2012-04-17 17:00:56 [Message] fib_1618 -> Chat: remember...it was the OEX breadth MCSUM at about +350 that suggested that there was likely to see a little more downside before we were able to met this same target
2012-04-17 17:01:03 [Message] fib_1618 -> Chat: Friday gave us that push
2012-04-17 17:01:12 [Message] fib_1618 -> Chat: Monday a little more follow though
2012-04-17 17:01:18 [Message] fib_1618 -> Chat: and BOOM...full stop
2012-04-17 17:01:31 [Message] fib_1618 -> Chat: like everything technical in nature
2012-04-17 17:01:59 [Message] fib_1618 -> Chat: there is always a certain amount of repetition that goes with this that helps us in our "expectations" of what to look for next
2012-04-17 17:02:25 [Message] fib_1618 -> Chat: so...now that we have snapped back to the MCO zero line in many cases
2012-04-17 17:02:43 [Message] fib_1618 -> Chat: and we have yet to see a ledge set up
2012-04-17 17:03:00 [Message] fib_1618 -> Chat: no less a MCSUM pattern of dot expansion
2012-04-17 17:03:22 [Message] fib_1618 -> Chat: the odds suggest that we're likely to see a one or two day hesitation to the MCSUM pattern here
2012-04-17 17:03:43 [Message] fib_1618 -> Chat: and keeping in mind that ledge formation generally trace out 2-4 market days
2012-04-17 17:04:03 [Message] fib_1618 -> Chat: then we could be basically doing not much of anything here until after Friday's OPEX
2012-04-17 17:04:10 [Message] fib_1618 -> Chat: maybe down tomorrow
2012-04-17 17:04:20 [Message] fib_1618 -> Chat: and then retrace much if not all on Thursday
2012-04-17 17:04:45 [Message] fib_1618 -> Chat: and go out flat for the week creating "maximum pain" for the option speculators
2012-04-17 17:05:10 [Message] fib_1618 -> Chat: same kind of situation with the Dow breadth MCO and it's MCSUM
2012-04-17 17:05:20 [Message] fib_1618 -> Chat: again...right at the +250 level on the MCSUM
2012-04-17 17:05:24 [Message] fib_1618 -> Chat: just like magic!
2012-04-17 17:05:27 [Message] fib_1618 -> Chat: :)
2012-04-17 17:05:44 [Message] fib_1618 -> Chat: moving to the MID breadth MCO
2012-04-17 17:05:53 [Message] fib_1618 -> Chat: and here we are also above the zero line
2012-04-17 17:06:01 [Message] fib_1618 -> Chat: but more importantly
2012-04-17 17:06:12 [Message] fib_1618 -> Chat: we did move above the early April highs today without too much of a problem
2012-04-17 17:06:27 [Message] fib_1618 -> Chat: so here's the second MCO to do so...and this would suggest a trading range
2012-04-17 17:06:38 [Message] fib_1618 -> Chat: looking at the price pattern
2012-04-17 17:06:52 [Message] fib_1618 -> Chat: it would now appear that the 950 level is solid support on any near term weakness
2012-04-17 17:07:06 [Message] fib_1618 -> Chat: and the 1000 level as overhead resistance
2012-04-17 17:07:30 [Message] fib_1618 -> Chat: the SML breadth MCO also moved above its zero line today
2012-04-17 17:07:40 [Message] fib_1618 -> Chat: and it closed above its early April highs as well
2012-04-17 17:07:46 [Message] fib_1618 -> Chat: looking at the SML breadth MCSUM
2012-04-17 17:07:55 [Message] fib_1618 -> Chat: and we see that it's now trying to hold the -250 level
2012-04-17 17:08:05 [Message] fib_1618 -> Chat: and as long time members of the chat know
2012-04-17 17:08:25 [Message] fib_1618 -> Chat: during corrections in advancing price structures
2012-04-17 17:09:00 [Message] fib_1618 -> Chat: the -250 level is usually the area in which there is then enough excesses out of the market where a tradable bottom can be anticipated
2012-04-17 17:09:26 [Message] fib_1618 -> Chat: just like the +250 level reflects in declining price structures
2012-04-17 17:09:40 [Message] fib_1618 -> Chat: so a break below this level would be short term bearish overall
2012-04-17 17:09:42 [Message] fib_1618 -> Chat: but if we hold here
2012-04-17 17:09:54 [Message] fib_1618 -> Chat: and we build on this by moving back above the zero line in quick order
2012-04-17 17:10:07 [Message] fib_1618 -> Chat: this would then be an "accumulation" signal
2012-04-17 17:10:17 [Message] fib_1618 -> Chat: with an all out buy signal given on a move above the +250 level
2012-04-17 17:10:24 [Message] fib_1618 -> Chat: also of technical note here
2012-04-17 17:10:53 [Message] fib_1618 -> Chat: we talked about how we had the structural similarity of a Summation Failure pattern working here
2012-04-17 17:11:12 [Message] fib_1618 -> Chat: where the MCSUM declined from an "overbought" level above the +500 level
2012-04-17 17:11:17 [Message] fib_1618 -> Chat: found zero line support
2012-04-17 17:11:27 [Message] fib_1618 -> Chat: but wasn't able to move back above the +250 level
2012-04-17 17:11:31 [Message] fib_1618 -> Chat: usually when that happens
2012-04-17 17:11:44 [Message] fib_1618 -> Chat: the move down and through the zero line can create a "crash like" event
2012-04-17 17:11:55 [Message] fib_1618 -> Chat: now...in a way
2012-04-17 17:12:00 [Message] fib_1618 -> Chat: this did occur
2012-04-17 17:12:13 [Message] fib_1618 -> Chat: since the day in which the pattern gaped below the zero line was....
2012-04-17 17:12:18 [Message] fib_1618 -> Chat: yes...last Tuesday
2012-04-17 17:12:23 [Message] fib_1618 -> Chat: but
2012-04-17 17:12:53 [Message] fib_1618 -> Chat: we also knew that with the broader indices still well above their MCSUM zero lines in the breadth area
2012-04-17 17:13:01 [Message] fib_1618 -> Chat: and especially in the volume area
2012-04-17 17:13:20 [Message] fib_1618 -> Chat: that it was highly unlikely that there would be any follow through to any "disturbance in the force"
2012-04-17 17:13:25 [Message] fib_1618 -> Chat: and here we are
2012-04-17 17:13:42 [Message] fib_1618 -> Chat: so it's always important to know the nuances of an indicator
2012-04-17 17:14:01 [Message] fib_1618 -> Chat: that it may not have the same meaning depending on what you're measuring
2012-04-17 17:14:15 [Message] fib_1618 -> Chat: think of it as each index is a different country
2012-04-17 17:14:39 [Message] fib_1618 -> Chat: but the interpretative language means something slightly different when spoken :)
2012-04-17 17:14:55 [Message] fib_1618 -> Chat: so it's a matter of balance really
2012-04-17 17:15:18 [Message] fib_1618 -> Chat: and giving priorities when necessary
2012-04-17 17:15:37 [Message] fib_1618 -> Chat: and a zero line snapback complete on the TM breadth MCO
2012-04-17 17:15:47 [Message] fib_1618 -> Chat: and with the MCSUM now at it's zero line
2012-04-17 17:15:59 [Message] fib_1618 -> Chat: the overall marketplace is best described is fully neutral here
2012-04-17 17:16:01 [Message] fib_1618 -> Chat: no up
2012-04-17 17:16:02 [Message] fib_1618 -> Chat: no down
2012-04-17 17:16:12 [Message] fib_1618 -> Chat: the battle between the two sides is now even
2012-04-17 17:16:18 [Message] fib_1618 -> Chat: which side will take control?
2012-04-17 17:16:24 [Message] fib_1618 -> Chat: that is always the question
2012-04-17 17:16:28 [Message] fib_1618 -> Chat: but what this also means is
2012-04-17 17:16:58 [Message] fib_1618 -> Chat: the market has decided that SPX 1392 is "fairly valued" with this same match up given all the variables
2012-04-17 17:17:16 [Message] fib_1618 -> Chat: and again...this is important to know
2012-04-17 17:17:23 [Message] fib_1618 -> Chat: because from here
2012-04-17 17:17:36 [Message] fib_1618 -> Chat: the market is about to discount where we're likely to go from here
2012-04-17 17:17:50 [Message] fib_1618 -> Chat: so once there's a stable enough bottom to do so
2012-04-17 17:18:16 [Message] fib_1618 -> Chat: it's likely that we're going to bet on the upside first on an intermediate term basis
2012-04-17 17:18:37 [Message] fib_1618 -> Chat: basically because of all the technical reasons we've discussed before
2012-04-17 17:18:42 [Message] fib_1618 -> Chat: and more to the point
2012-04-17 17:18:51 [Message] fib_1618 -> Chat: the sellers still have no backbone here
2012-04-17 17:18:54 [Message] fib_1618 -> Chat: they bully a lot
2012-04-17 17:19:00 [Message] fib_1618 -> Chat: but when push comes to shove
2012-04-17 17:19:18 [Message] fib_1618 -> Chat: they still have nothing behind them to make their point
2012-04-17 17:19:24 [Message] fib_1618 -> Chat: so until that changes
2012-04-17 17:19:33 [Message] fib_1618 -> Chat: the path of least resistance remains higher
2012-04-17 17:19:41 [Message] fib_1618 -> Chat: which also means
2012-04-17 17:19:52 [Message] fib_1618 -> Chat: any surprises will tend to be in this same direction
2012-04-17 17:20:14 [Message] fib_1618 -> Chat: let's take a quick look at the volume McClellan's..
2012-04-17 17:20:41 [Message] fib_1618 -> Chat: now...in the bigger scheme of things
2012-04-17 17:20:54 [Message] fib_1618 -> Chat: we always want to see the volume component either moving in sync with breadth
2012-04-17 17:20:57 [Message] fib_1618 -> Chat: or preferably
2012-04-17 17:21:18 [Message] fib_1618 -> Chat: we want it to lead breadth so that a trending structure can be created
2012-04-17 17:21:31 [Message] fib_1618 -> Chat: so..let's see how volume is doing
2012-04-17 17:21:49 [Message] fib_1618 -> Chat: snapback to the zero line as well on the CO NYSE volume MCO
2012-04-17 17:22:09 [Message] fib_1618 -> Chat: but here we have a different look to the pattern compared to its breadth cousin...anyone?
2012-04-17 17:22:39 [Message] fib_1618 -> Chat: unlike breadth..we are still below the early April highs here
2012-04-17 17:22:53 [Message] fib_1618 -> Chat: so although we do have sync between the two
2012-04-17 17:23:03 [Message] fib_1618 -> Chat: breadth is still a bit stronger than volume at this stage
2012-04-17 17:23:09 [Message] fib_1618 -> Chat: so we're not quite ready to trend here
2012-04-17 17:23:36 [Message] fib_1618 -> Chat: and this would compliment the corrective behavior we've been both anticipating and getting from the market
2012-04-17 17:24:11 [Message] fib_1618 -> Chat: zero line snapback completed as well on the composite NYSE volume MCO
2012-04-17 17:24:24 [Message] fib_1618 -> Chat: and looking at the combo chart here
2012-04-17 17:24:30 [Message] fib_1618 -> Chat: we are dead neutral
2012-04-17 17:24:40 [Message] fib_1618 -> Chat: both on a short term and intermediate term basis
2012-04-17 17:24:45 [Message] fib_1618 -> Chat: so one thing's for sure
2012-04-17 17:25:09 [Message] fib_1618 -> Chat: anybody who wants to take a position in this current market has now done so
2012-04-17 17:25:30 [Message] fib_1618 -> Chat: so it will be up to new, fresh opinions, that will drive prices over the next week or so
2012-04-17 17:25:56 [Message] fib_1618 -> Chat: this then actually compliments the idea that we might not see too much action for the rest of the week
2012-04-17 17:26:27 [Message] fib_1618 -> Chat: now...this doesn't necessarily mean a 3 point window of unchanged in the cash SPX
2012-04-17 17:27:00 [Message] fib_1618 -> Chat: but it does mean that whatever action we might see tomorrow will probably bring us back to today's area the next day
2012-04-17 17:27:05 [Message] fib_1618 -> Chat: and why...
2012-04-17 17:27:11 [Message] fib_1618 -> Chat: this remains a hit and run market for now
2012-04-17 17:27:19 [Message] fib_1618 -> Chat: or even
2012-04-17 17:27:22 [Message] fib_1618 -> Chat: for many
2012-04-17 17:27:37 [Message] fib_1618 -> Chat: this would be a nice time to take a couple of days off and recharge
2012-04-17 17:27:54 [Message] fib_1618 -> Chat: moving to the NASDAQ volume MCO
2012-04-17 17:28:11 [Message] fib_1618 -> Chat: and we were able to move above last Thursday's highs today
2012-04-17 17:28:20 [Message] fib_1618 -> Chat: so money is coming back into the secondaries as well
2012-04-17 17:28:33 [Message] fib_1618 -> Chat: but maybe not as fast as it is with the stocks on the NYSE
2012-04-17 17:28:50 [Message] fib_1618 -> Chat: this too suggests indecision by the majority
2012-04-17 17:29:02 [Message] fib_1618 -> Chat: and if they have to be invested
2012-04-17 17:29:21 [Message] fib_1618 -> Chat: it's probably better to go with issues that will give you something while you wait
2012-04-17 17:29:25 [Message] fib_1618 -> Chat: a dividend, a split
2012-04-17 17:29:33 [Message] fib_1618 -> Chat: or something else
2012-04-17 17:29:55 [Message] fib_1618 -> Chat: good constructive sequence as well with the NDX volume MCO
2012-04-17 17:29:58 [Message] fib_1618 -> Chat: but as we can see here
2012-04-17 17:30:10 [Message] fib_1618 -> Chat: both the NASDAQ and NDX still remain well below their MCO zero lines
2012-04-17 17:30:22 [Message] fib_1618 -> Chat: now...some may think that this is a sign a weakness here
2012-04-17 17:30:26 [Message] fib_1618 -> Chat: but on the contrary
2012-04-17 17:30:47 [Message] fib_1618 -> Chat: the weakness would come if the secondaries were leading in this specific context
2012-04-17 17:31:01 [Message] fib_1618 -> Chat: but with the primaries attracting money here
2012-04-17 17:31:27 [Message] fib_1618 -> Chat: this same money is immediately available to move back into the growth area with a simple keystroke
2012-04-17 17:31:50 [Message] fib_1618 -> Chat: zero line snapback on the SPX volume MCO
2012-04-17 17:32:18 [Message] fib_1618 -> Chat: and the importance of another crossover buy signal on the components suggests that the underlying tone of money flow remains quite favorable
2012-04-17 17:32:33 [Message] fib_1618 -> Chat: one then has to be ready for a continuation here
2012-04-17 17:32:44 [Message] fib_1618 -> Chat: again...it's an indecision pattern for now
2012-04-17 17:32:57 [Message] fib_1618 -> Chat: and you know how fickle humans can be :)
2012-04-17 17:33:25 [Message] fib_1618 -> Chat: snapback to zero on both the OEX and Dow volume MCO's
2012-04-17 17:33:48 [Message] fib_1618 -> Chat: and both of their MCSUM's still remain above the +500 level
2012-04-17 17:34:06 [Message] fib_1618 -> Chat: which makes it more than just a chore for the bears to mount up any kind of decisive behavior on their part
2012-04-17 17:34:28 [Message] fib_1618 -> Chat: and probably the single reason why we've recovered as nicely as we have over the last week
2012-04-17 17:34:42 [Message] fib_1618 -> Chat: well well
2012-04-17 17:34:44 [Message] fib_1618 -> Chat: look at this
2012-04-17 17:34:53 [Message] fib_1618 -> Chat: the MID volume MCO is not only above its zero line
2012-04-17 17:35:07 [Message] fib_1618 -> Chat: but it's also the mid March highs as well
2012-04-17 17:35:16 [Message] fib_1618 -> Chat: this is great sign of strength here
2012-04-17 17:35:43 [Message] thespookyone -> Chat: you mean April highs, right?
2012-04-17 17:35:55 [Message] fib_1618 -> Chat: and increases the likelihood that we might find good support at the MID volume MCSUM -250 level
2012-04-17 17:36:03 [Message] fib_1618 -> Chat: March as well Lew...check the 21 day close up chart
2012-04-17 17:36:16 [Message] fib_1618 -> Chat: as the selling is all but dried up now in the MID basket of stocks
2012-04-17 17:36:49 [Message] fib_1618 -> Chat: and if there is any more selling...it will be with those who are unwilling to...but feel that they must
2012-04-17 17:37:19 [Message] fib_1618 -> Chat: pretty good strength here as well with the SML volume MCO
2012-04-17 17:37:48 [Message] fib_1618 -> Chat: as this basket of stock's money flow is attempting to find intermediate term parity
2012-04-17 17:38:32 [Message] fib_1618 -> Chat: and the TM volume MCO is definitely showing more weakness than its breadth cousin here
2012-04-17 17:38:59 [Message] fib_1618 -> Chat: so...either we're going to need another day or so of firmness to get some better universal sync here
2012-04-17 17:39:38 [Message] fib_1618 -> Chat: or we might have to back and fill a bit near term to check out whether there's any more weaker hands or not
2012-04-17 17:39:40 [Message] fib_1618 -> Chat: so...
2012-04-17 17:39:49 [Message] fib_1618 -> Chat: we've had a nice 3 days of trading
2012-04-17 17:40:03 [Message] fib_1618 -> Chat: and our blueprint from last week has been pretty much been spot on
2012-04-17 17:40:14 [Message] fib_1618 -> Chat: using other market analytics
2012-04-17 17:40:41 [Message] fib_1618 -> Chat: and it would seem that we are nearing the upper reaches of what we can reasonably expect over the short term
2012-04-17 17:41:09 [Message] fib_1618 -> Chat: so we'll have to be mindful of any near term unseen pot hold around the corner
2012-04-17 17:41:14 [Message] fib_1618 -> Chat: aside from that
2012-04-17 17:41:30 [Message] fib_1618 -> Chat: it would appear that we're now getting indications that we're in a larger trading range now
2012-04-17 17:41:48 [Message] fib_1618 -> Chat: if the Open 10's are high (low) tonight...that would help reinforce this forecast
2012-04-17 17:41:59 [Message] fib_1618 -> Chat: let's see how the volume oscillators look
2012-04-17 17:42:16 [Message] fib_1618 -> Chat: CVI's are pretty much climactic
2012-04-17 17:42:30 [Message] fib_1618 -> Chat: but we could have another one day push and then see our near term price top
2012-04-17 17:42:50 [Message] fib_1618 -> Chat: STVO's are now north of the zero line
2012-04-17 17:42:55 [Message] fib_1618 -> Chat: so snapback complete there as well
2012-04-17 17:43:27 [Message] fib_1618 -> Chat: and the VTO's are split on whether the market is fully "oversold" or not
2012-04-17 17:43:46 [Message] fib_1618 -> Chat: so maybe one more push lower will take care of that
2012-04-17 17:43:58 [Message] fib_1618 -> Chat: NYSE TRIN at .44
2012-04-17 17:44:03 [Message] fib_1618 -> Chat: short covering
2012-04-17 17:44:11 [Message] fib_1618 -> Chat: whew
2012-04-17 17:44:22 [Message] fib_1618 -> Chat: Open 10 highly "oversold" at 1.21
2012-04-17 17:44:39 [Message] fib_1618 -> Chat: so the bears don't have much of a chance now to create a trend
2012-04-17 17:44:49 [Message] fib_1618 -> Chat: and in fact
2012-04-17 17:45:02 [Message] fib_1618 -> Chat: the ball in the deep end of the pool is the size of a beach ball now
2012-04-17 17:45:20 [Message] fib_1618 -> Chat: so they're going to have their difficulties moving and then staying lower
2012-04-17 17:45:27 [Message] fib_1618 -> Chat: at least near term
2012-04-17 17:45:37 [Message] fib_1618 -> Chat: NASDAQ TRIN at .64
2012-04-17 17:45:47 [Message] fib_1618 -> Chat: Open 10 at 1.12
2012-04-17 17:45:51 [Message] fib_1618 -> Chat: "oversold"
2012-04-17 17:45:59 [Message] fib_1618 -> Chat: it's always funny to see this
2012-04-17 17:46:06 [Message] fib_1618 -> Chat: after the market moves up 2%
2012-04-17 17:46:13 [Message] fib_1618 -> Chat: and STILL we're "oversold"
2012-04-17 17:46:17 [Message] fib_1618 -> Chat: that's bullish longer term
2012-04-17 17:46:27 [Message] fib_1618 -> Chat: TM TRIN at .55
2012-04-17 17:46:35 [Message] fib_1618 -> Chat: Open 10 at 1.17
2012-04-17 17:46:39 [Message] fib_1618 -> Chat: "oversold"
2012-04-17 17:46:42 [Message] fib_1618 -> Chat: so....
2012-04-17 17:46:57 [Message] fib_1618 -> Chat: for the bears...it will be a struggle here for the next couple of days
2012-04-17 17:47:01 [Message] fib_1618 -> Chat: for the bulls
2012-04-17 17:47:16 [Message] fib_1618 -> Chat: they have a nice amount of support below them at these levels
2012-04-17 17:47:27 [Message] fib_1618 -> Chat: looking at the market with an Elliott hat on
2012-04-17 17:47:34 [Message] fib_1618 -> Chat: if this is wave (4)
2012-04-17 17:47:48 [Message] fib_1618 -> Chat: then a .382 retracement would allow a decline to 1382 cash
2012-04-17 17:47:58 [Message] fib_1618 -> Chat: now...that's about 9-10 points
2012-04-17 17:48:04 [Message] fib_1618 -> Chat: and worth a scalp
2012-04-17 17:48:11 [Message] fib_1618 -> Chat: but if we get there
2012-04-17 17:48:21 [Message] fib_1618 -> Chat: it's not likely we're going to be able to do much more
2012-04-17 17:48:37 [Message] fib_1618 -> Chat: so keep this in mind if you're so inclined to day trade here
2012-04-17 17:48:42 [Message] fib_1618 -> Chat: other than that...
2012-04-17 17:48:56 [Message] fib_1618 -> Chat: we probably need to see how things shake out over the next couple of days
2012-04-17 17:49:27 [Message] fib_1618 -> Chat: and from that we should be able to ascertain if we're going to see a retest of the 4/10 lows or not
2012-04-17 17:49:39 [Message] fib_1618 -> Chat: will it be a correction of price or time?
2012-04-17 17:49:53 [Message] fib_1618 -> Chat: the more MCO's that take out their early April spikes
2012-04-17 17:50:11 [Message] fib_1618 -> Chat: the more leverage for the group who believes in time fixing all ills :)
2012-04-17 17:50:14 [Message] fib_1618 -> Chat: anything else?
2012-04-17 17:50:17 [Message] thespookyone -> Chat: when we go to finish the correction, outside of wave sizes, what can I use internally to project the size of the finish between equality and a .618 (I pretty much ruled out the 1.618 last Thursday)? Outside, of course, of watching the MCO's
2012-04-17 17:50:46 [Message] fib_1618 -> Chat: the "size of the finish"? I'm not clear
2012-04-17 17:50:55 [Message] fib_1618 -> Chat: oh...
2012-04-17 17:51:08 [Message] fib_1618 -> Chat: you want a guideline on breadth plurality?
2012-04-17 17:51:13 [Message] thespookyone -> Chat: please
2012-04-17 17:51:17 [Message] fib_1618 -> Chat: OK..one sec
2012-04-17 17:51:25 [Message] fib_1618 -> Chat: let's see how tomorrow is shaping up
2012-04-17 17:51:25 [Message] fib_1618 -> Chat: but I would think that anything above 2:1 to the bad would be .618
2012-04-17 17:51:41 [Message] fib_1618 -> Chat: anything worse than that would probably give us equality
2012-04-17 17:51:56 [Message] fib_1618 -> Chat: but again...that's after we finish 5 waves up
2012-04-17 17:52:02 [Message] fib_1618 -> Chat: one sec
2012-04-17 17:52:43 [Message] fib_1618 -> Chat: no change on the NYSE MCO = +37
2012-04-17 17:52:59 [Message] fib_1618 -> Chat: zero line reading = +198
2012-04-17 17:53:05 [Message] fib_1618 -> Chat: so one thing we see here
2012-04-17 17:53:24 [Message] fib_1618 -> Chat: is that the bulls now have the odds with them as far as the short term trend of breadth is concerned
2012-04-17 17:53:37 [Message] fib_1618 -> Chat: so...I would follow the outline given above
2012-04-17 17:53:42 [Message] thespookyone -> Chat: excellent-and for the record, my stuff really aligns with your possible 4 and 5 here
2012-04-17 17:54:00 [Message] fib_1618 -> Chat: the pattern is tracing out effortlessly right now
2012-04-17 17:54:10 [Message] fib_1618 -> Chat: which could be good or bad :)
2012-04-17 17:54:18 [Message] fib_1618 -> Chat: you know Elliott...it's good until it isn't
2012-04-17 17:54:21 [Message] thespookyone -> Chat: LOL too true!
2012-04-17 17:54:22 [Message] fib_1618 -> Chat: :)
2012-04-17 17:54:30 [Message] fib_1618 -> Chat: anything else?
2012-04-17 17:54:47 [Message] thespookyone -> Chat: thx much
2012-04-17 17:54:54 [Message] fib_1618 -> Chat: OK...then I'm going to take off
2012-04-17 17:54:57 [Message] fib_1618 -> Chat: and you're welcome
2012-04-17 17:55:03 [Message] fib_1618 -> Chat: everyone have a great couple of days
2012-04-17 17:55:11 [Message] fib_1618 -> Chat: and we'll see what we have to work with on Thursday
2012-04-17 17:55:12 [Message] fib_1618 -> Chat: good night
2012-04-17 17:55:20 [Message] EricD -> Chat: thanks


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