Latest S & P 500 Count

[spike1]

(10-20-2010 03:54 AM)spike1 Wrote:  Hi guys

This is what I have so far. Im with Finster on that final c4 but am not to sure if it has compleated yet. Time will tell.

Take care

Looks like like that 3rd c4 is a go. Almost there.

[finster869]

(10-20-2010 01:18 AM)Steely Dan Wrote:  

(10-19-2010 10:22 PM)finster869 Wrote:  

(10-19-2010 04:07 PM)Perry Wrote:  Well, I see the C4 I marked this morning did not last long.

Perry- I didnt' have that marked as a c4....it was a "placeholder" to show that I thought we were building another c4. Still might be building it. Break of 1155.71 would make me suspect a new trend down.

Hi Finster, We are in 100% agreement - there should be a long trade opportunity between 1155 and 1159 but I will only take it if the waves are crystal clear then because I do see a possible way of putting 1151 as the actual pivot. I guess long term I agree with Tom unless 1151 goes.

Dan

Nice call, Dan. Did you take it? I am starting to see what you have been saying about playing the "c4's".

[finster869]

(10-20-2010 03:11 PM)spike1 Wrote:  

(10-20-2010 03:54 AM)spike1 Wrote:  Hi guys

This is what I have so far. Im with Finster on that final c4 but am not to sure if it has compleated yet. Time will tell.

Take care

Looks like like that 3rd c4 is a go. Almost there.

I think you are right, and think more likely scenario is 1185 to get taken out with a new high. However, I cannot rule out 1185 being a top. I didn't look at the smaller detail especially close, but on the 15 minute chart it looks like the wave could possibly count as 5 down for a 1 at 1159, and an "a", "b", "c" for 2 at 11182.94, albeit a deep retrace.

[Steely Dan]

We are in dangerous (Opex) territory. I can see 1159 as the pivot, if so we had one of Theory's rushes for the turn. It is possible as Finster pointed out that a top is in, though it is also possible we are still awaiting 5 of C4 down to sub 1159 if we have a volatile sell off proximate to Opex, though my hunch now is that 1159 was indeed the pivot and we will consolidate in a narrow range before challenging the 2010 highs later.

[finster869]

(10-20-2010 11:24 PM)Steely Dan Wrote:  We are in dangerous (Opex) territory. I can see 1159 as the pivot, if so we had one of Theory's rushes for the turn. It is possible as Finster pointed out that a top is in, though it is also possible we are still awaiting 5 of C4 down to sub 1159 if we have a volatile sell off proximate to Opex, though my hunch now is that 1159 was indeed the pivot and we will consolidate in a narrow range before challenging the 2010 highs later.

Steely- Opex was early this month. It was Oct 15th.

[spike1]

Hi Guys

Just playing the devils advocate here but taking a closer look at that past c4? at 1159 and, well I dont know, take a look below guys and youll see what I mean.

   

Zoomed out

   

So this is where I am at so far. Take care and its going to be interesting to see how all this unfolds.

   

[finster869]

Yes, Spike, that does look like a 5 move down, which is what I was suggesting before. On your 2nd chart, the move back up looks like an "A", "B", "C" for a 2 ("1174 is A; 1169 is B; and currently working on C).

Like Dan said, these waves are super tough to count. I can't rule out your suggestion that the 5 wave move down was an "A" either, but I don't like the placement of the "1" on your 3rd chart at 1151.....looks like too complex a structure to be a second "1"......Looks much more like a "B" with your "2" being another C4.

[finster869]

(10-21-2010 08:40 AM)finster869 Wrote:  Yes, Spike, that does look like a 5 move down, which is what I was suggesting before. On your 2nd chart, the move back up looks like an "A", "B", "C" for a 2 ("1174 is A; 1169 is B; and currently working on C).

Like Dan said, these waves are super tough to count. I can't rule out your suggestion that the 5 wave move down was an "A" either, but I don't like the placement of the "1" on your 3rd chart at 1151.....looks like too complex a structure to be a second "1"......Looks much more like a "B" with your "2" being another C4.

Well, new high, so 1159 is either a c4, or an "A" under Spike's above chart. I'm going with c4.

[TS Hennessy]

My thinking is that this may be getting advanced too quickly.

This is how I see it.

   

[finster869]

TS- Just so I understand, you have us building the "b" still?