02/24/2014 Live Update

[uempel]

Miyagi, now that was a lousy Power Hour

[flrtrader]

Thanks TG,

Do you have a downside target from the T bar, or other work?

Thanks

There is a "T" hitting tomorrow sometime..so perhaps the bigger turn happens then...wave count suggests if there is a pullback soon intraday, perhaps another leg up into tomorrow?...so perhaps this could be a possible outcome...but even if we get a pullback beginning tomorrow, based on the wave count, highs are not done yet IMHO, at least on the SPY/SPX...

The T is hitting tomorrow at 9:30 a.m.

My hourly chart says anywhere from 10:30-11:30am PST, but your charts are pretty accurate, we will see..

The "T" off the double bottom says possible signal hitting soon?? (Intraday only signal)

The "T" off the double bottom timed a turn as indicated...now price pattern still playing out as previously indicated this morning...p-bar up to 186.10, so bounce still possible... intraday charts indicate a pullback as we are getting then bounce...

[MrMiyagi]

Miyagi, now that was a lousy Power Hour

I tried, I had my cheerleader outfit and all... There's only so much I can do

erm...

ll.jpg (43.71 KiB) Viewed 2619 times

[uempel]

Miyagi, now that was a lousy Power Hour

I tried, I had my cheerleader outfit and all... There's only so much I can do

ll.jpg

[TraderGirl]

Thanks TG,

Do you have a downside target from the T bar, or other work?

Thanks

There is a "T" hitting tomorrow sometime..so perhaps the bigger turn happens then...wave count suggests if there is a pullback soon intraday, perhaps another leg up into tomorrow?...so perhaps this could be a possible outcome...but even if we get a pullback beginning tomorrow, based on the wave count, highs are not done yet IMHO, at least on the SPY/SPX...

The T is hitting tomorrow at 9:30 a.m.

My hourly chart says anywhere from 10:30-11:30am PST, but your charts are pretty accurate, we will see..

The "T" off the double bottom says possible signal hitting soon?? (Intraday only signal)

The "T" off the double bottom timed a turn as indicated...now price pattern still playing out as previously indicated this morning...p-bar up to 186.10, so bounce still possible... intraday charts indicate a pullback as we are getting then bounce...

It's very hard to tell where price will go, I work more with time combined with price...

Anyways, this count is the reason I believe we get a "B" wave pullback then another leg up for "C"...because it looks like we are getting 5 waves up for "A"....

[koolblue]

Now perhaps you all see why I shorted that 1856 zone.. if you look at the weekend update you will see that was also a weekly projection besides the short term ones I showed today. In my mind that added to its possibility of some kind of reaction. Too bad I didn't have a runner going on that short. Hope you all had a great day!

[Nrsimha]

There is a "T" hitting tomorrow sometime..so perhaps the bigger turn happens then...wave count suggests if there is a pullback soon intraday, perhaps another leg up into tomorrow?...so perhaps this could be a possible outcome...but even if we get a pullback beginning tomorrow, based on the wave count, highs are not done yet IMHO, at least on the SPY/SPX...

The T is hitting tomorrow at 9:30 a.m.

My hourly chart says anywhere from 10:30-11:30am PST, but your charts are pretty accurate, we will see..

The "T" off the double bottom says possible signal hitting soon?? (Intraday only signal)

The "T" off the double bottom timed a turn as indicated...now price pattern still playing out as previously indicated this morning...p-bar up to 186.10, so bounce still possible... intraday charts indicate a pullback as we are getting then bounce...

I like the way you think.

[TraderGirl]

wave 5 can be an abc up as well as an alternate, that would mean price is done getting higher highs for now...so since the end of the day has what looks like a possible 5 waves down, abc up could be complete and we bounce to lower high??

will have to see more price action tomorrow...

[TWT]

$DOW: The Ending Diagonal idea

[TraderGirl]

Or, similar to the last wave down, that could be an a,b, 5 waves down for c...this would allow for a higher high, but I think that if we get a higher high tomorrow it may barely make a higher high and will be short lived...we'll see...

[Nrsimha]

Thanks TG,

Do you have a downside target from the T bar, or other work?

Thanks

There is a "T" hitting tomorrow sometime..so perhaps the bigger turn happens then...wave count suggests if there is a pullback soon intraday, perhaps another leg up into tomorrow?...so perhaps this could be a possible outcome...but even if we get a pullback beginning tomorrow, based on the wave count, highs are not done yet IMHO, at least on the SPY/SPX...

My hourly chart says anywhere from 10:30-11:30am PST, but your charts are pretty accurate, we will see..

The "T" off the double bottom says possible signal hitting soon?? (Intraday only signal)

The "T" off the double bottom timed a turn as indicated...now price pattern still playing out as previously indicated this morning...p-bar up to 186.10, so bounce still possible... intraday charts indicate a pullback as we are getting then bounce...

It's very hard to tell where price will go, I work more with time combined with price...

Anyways, this count is the reason I believe we get a "B" wave pullback then another leg up for "C"...because it looks like we are getting 5 waves up for "A"....

Wow, your target for the top of Wave 5 corresponds closed to my line in the sand of SPX = 1863.96 !!

[TWT]

$FXY: Potential bullish setup

[TWT]

$SPX: It looks possible. Will it pan out ?

[uempel]

These two charts show the vulnerability of the market end of February. Bulls will have to make a very strong statement to convince traders/investors that there is more upside for US/European markets in March.