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« A Simple Explanation of the Great Recession and Why It Has Years To Go | Main | September is the Cruelest Month For Stocks, But Kicks Off Very Positive UPDATED »

Wednesday, September 01, 2010


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Like the picture!


Neely's count:

A smaller x wave and an expanding triangle is also a possibility I think. Could be in an expanding triangle for wave d of e from the 25th.


Yelnick, Could we have more photos and fewer EWT charts ??

Hank Wernicki

More photos please !

roger z



SPX Trendline Watch:

Account Deleted

Dow Jones Futures before opening bell

Mamma Boom Boom

Happy to see 'us girls' getting some respect for a change.


Yelnick - good work but every sixth grader knows that that's at least a D cup ;-)


Mole, I helped a company go public in the '80s with the name Compucorp. Symbol: CCUP. Guess what it was lovingly called in the trading desks? So it stuck with me. Nice alliteration. BTW what is the sixth grader's view of the incredible Joan Harris (née Holloway) in Mad Men (Christina Hendricks)?

Hank Wernicki

The DOW 30 is dislaying a 2h parent top ( larger multiple )

It's base is on 8/9 1:30 pm which is the child top ( smaller multiple )

Currently the DOW is trading now at 10,283.75

Watch it during the day <<<<< during the day into the close <<<

IF it fails to rally and stays at the current level

Then it becomes a short entry on a 2 hour chart

But it can NOT move any higher ( then a scrub )

wait for a confirmation with a Stop at 10,283.75

plus or minus a few points ( wiggle room )

tomorrow will be down If the Dow holds here at the current level now

Wait 2 hours for a clear confirmation near 1:30 pm EDT

Going back to bed

See you tomorrow



Historically a republican congress and democrat white house have been bullish for stocks.

Mamma Boom Boom

Hankelberry, that seems quite dangerous, to me. The primary and secondary trends are now up. Yes, a small pullback is always possible. But it seems to me that you are proposing 'Reverse Russian Roulette'(RRR), where only one bullet is taken out.


You're prettier when you don't say anything!$INDU&p=W&yr=0&mn=6&dy=0&id=p06839037930

El Coro

Yes, you can keep your bets small. Yes, history suggests that some trades are more likely to fail. No, I don't think traders' goal is to be 100% right.

What I'm saying is that Idiott Waves don't help you make more money than people who don't use Idiott Waves, all other things equal.

Cyclical Trader

2 year cycle low is IN

4 year cycle low MAY be in and EARLY

Rally Time

Wall Street 2 - The Movie, comes out in 2 weeks. (socionomics of a bull market)


How funny!

Daneric is now apologizing on his EWave blog for "fitting" a 5-wave down count from the August 9th highs and not seeing the "three" that is actually there. He also admits that he IGNORED all of the bearish sentiment. Are you kidding me???

You'd have to have had your head stuck in the sand not to be AWARE of all of the bearish sentiment given the Death Cross, Cardinal Climax, and Hindenberg Omen all in one month's time!

This is yet another reason to be very careful "following" EWave bloggers that do not trade fulll-time and instead, have a "day" job. Why?

Because they simply don't have any "skin" in the game. If they did, they'd be much more AWARE of what is actually going on in the market - - - instead of trying to FIT yet another "perma-bear" EWI count onto their charts after they get home from work.


Its easy to be an ewaver blogger. Takes only 4 steps:

1. Get a chart
2. Draw a line to Dow 500 (like chart below)
3. Place scary labels on waves like 5 of 5! and 3 of 3!
4. Publish on a blog

congratulations! you are now an ewave blogger.


The Rally continues... NYSE A/D line running 2450 vs 1240

Mamma Boom Boom

It's almost like watching Cirque du Soleil

Neo-Mamma (1)

Hank (0)


Prechter's "nesting"
of 1-2's are now officially BLOWN UP with this SPX 1090 close.

Hochberg's "throw the towel in" comments about Gold last night were downright comical.

These people are CLOWNS!


What I'm saying is that Idiott Waves don't help you make more money than people who don't use Idiott Waves, all other things equal.

Posted by: El Coro | Thursday, September 02, 2010 at 10:35 AM

Maybe. I don't know. This isn't just something you can assert, though, you have to have data to show it's true.


Hochberg should do himself a favor and throw in the towel on gold IMNSHO - he's been consistently wrong since 750 and that was what - 18 months ago?

I mean - if I was wrong on a market so consistently and for so long I would walk away from it. Which btw, is a piece of advice I myself took about a year ago.


August move looks like two equal downlegs of 60 points each. I don't use ew but it would seem that the downmove would've deemed complete or the second downleg had further to go. It would be useful to different decision points on a chart. Once it sustained the break above the trendline for the second downleg, it was likely that the move would have to be compared against the entire August decline with the next target at 1108, the trendline from the April highs.

So far, the giant head-and-shoulders still has a long way to go to complete. It still needs to back to 1150 to form the right head, break above the April highs, or continue the formation for another 10-12 weeks before the right side is completed.

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