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Fibonacci retracement 38.2% is 42.45$, 50% is 42.00$ and 61.8% is something like 41.65$ IIRC. Maybe look for an entry point at 41.65$/42.00$ if 42.45$ doesn't hold. I think 42.00$ would hold it most likely thought.
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Gco....
Here's the way I see the Fibonacci Retracement on GCO.... Note: This chart does not show today's price action (Low today was $42.3Originally posted by EMphase
Given market conditions, I'd stalk to the 50% line.... There's a little $0.03 gap sitting dead on the line, did you fellas see that?.... Pretty nice stock, I'm researching further.
BEEF!... it's whats for dinner!Comment
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Canadian & american outlook 2006
When I don't understand much what's happening graphically with the DJIA and the SP500, I have a little canadian secret: The SPTSX aka old TSE300. That index is the easiest index to understand graphically and by FAR. You will love it too! That index contains mostly financial, basic materials, some tech stocks, paper, oil & consumer products companies.
Usually that index follows alot what's going on in the US so it's relevant to predict what's going to happen in the US to some extend... Except that the canadian economy is better in general so expect that the lenghts of the waves to be of bigger intensity than the ones on the US market at least now since 2003.
Short term
Medium term
Long term
SPTSX reached a top @ 12500 points and is now making a huge long term double top.
SPTSX finished an extended wave 5.
Conclusion: SPTSX is going back to the 11500-11750 range to touch the channel support within the next weeks. This means the US market will be that sluggish too. If the channel support is broken then SPTSX is going to 9500 points, which is the level of the 2nd wave of the extension. Extended 5's are nasty. Hopefully that channel support is going to hold!Last edited by EMphase; 05-12-2006, 12:59 PM.Comment
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Originally posted by EMphaseCanadian & american outlook 2006
When I don't understand much what's happening graphically with the DJIA and the SP500, I have a little canadian secret: The SPTSX aka old TSE300. That index is the easiest index to understand graphically and by FAR. You will love it too! That index contains mostly financial, basic materials, some tech stocks, paper, oil & consumer products companies. Usually that index follows alot what's going on in the US so it's relevant to predict what's going to happen in the US.
Medium term
Long term
SPTSX reached a top @ 12500 points and is now making a huge long term double top.
SPTSX finished an extended wave 5.
Conclusion: SPTSX is going back to the 11500-11750 range to touch the channel support within the next weeks. This means the US market will be that sluggish too. If the channel support is broken then SPTSX is going to 9500 points, which is the level of the 2nd wave of the extension. Extended 5's are nasty. Hopefully that channel support is going to hold!
Is this why ELN has a increase today ya think? I cant seem to find anything to explain why 4% increaseComment
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ELN is in a defensive industry: drugs manufacturing and R&D. That industry is holding better than the market in general when the market is sinking.Originally posted by sisterwin2Comment
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Good stuff Emphase. Thanks.Originally posted by EMphaseCanadian & american outlook 2006
When I don't understand much what's happening graphically with the DJIA and the SP500, I have a little canadian secret: The SPTSX aka old TSE300. That index is the easiest index to understand graphically and by FAR. You will love it too! That index contains mostly financial, basic materials, some tech stocks, paper, oil & consumer products companies.
Usually that index follows alot what's going on in the US so it's relevant to predict what's going to happen in the US to some extend... Except that the canadian economy is better in general so expect that the lenghts of the waves to be of bigger intensity than the ones on the US market at least now since 2003.
Short term
Medium term
Long term
SPTSX reached a top @ 12500 points and is now making a huge long term double top.
SPTSX finished an extended wave 5.
Conclusion: SPTSX is going back to the 11500-11750 range to touch the channel support within the next weeks. This means the US market will be that sluggish too. If the channel support is broken then SPTSX is going to 9500 points, which is the level of the 2nd wave of the extension. Extended 5's are nasty. Hopefully that channel support is going to hold!
EDIT: Oh, and by the way, another GCO setup presented today. Details and chart at my blog for anyone interested.Comment
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GCO is still "working as intended". It did a 100% retracement on wave 1. I didn't expect it to retrace -that low- but thats still fine and it was something that could happen. However if it breaks 40.00$ then it looks bad. I hope this won't happen but this time it looks like it's going to bounce back.
SPTSX canadian index is doing exactly what I said so far. It' sinking. It went lower than 11750 points. It's now at 11640 points. This means that the outlook isn't nice in the US.Comment
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Breaking the Nas comp line
EM
Jim Smith just posted that the Nasd comp broke a trendline that goes back to 2002. Does EW have a target on that? I remember Prechter was predicting a further fall sometime back.Comment
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HERE'S LOOKING AT THE WAVES IN THE NASDAQ
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The charts by Marketwavez are simply Elliott wave-counts that are believed to be what the given market is tracing out . Wave-counts are highly subjective and definitely not 100 % reliable... Wave-counts also vary from one person to another who may be analyzing the given market and also can vary based on the time frames that are being analyzed.....>>
2 CHARTS POSTED BELOW
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Last edited by Guest; 06-08-2007, 01:39 PM.Comment
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Big ups or Big downs
Looks like EM has left the building.
marketwavez,
Nice charts, but I was thinking back to 82. I'm definitely not an Elliott Wave expert, but aren't there 3 big waves up to 2000 and then there are supposed to be two waves down? If one down wave was from 2000 to 2002 then there's another down wave left in this cycle which would probably go below 1100. Or maybe that was already two waves down to 1100 and the Naz is already on another cycle up? Don't know. I just recall Prechter was predicting something like that (and was too early) and then the Naz target would be around 500 before it started up again. That sounds really bad, but it's already been to 1100 and back up. It could happen with something like another big Al Qaeda attack or Iran starts a Hormuz oil tanker turkey shoot with its supersonic silkworm missles. I never thought I'd see something like 9/11 or the Katrina debacle happen, so I wouldn't be suprised about anything at this point.
Originally posted by marketwavezHERE'S LOOKING AT THE WAVES IN THE NASDAQ
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The charts by Marketwavez are simply Elliott wave-counts that are believed to be what the given market is tracing out . Wave-counts are highly subjective and definitely not 100 % reliable... Wave-counts also vary from one person to another who may be analyzing the given market and also can vary based on the time frames that are being analyzed.....>>
2 CHARTS POSTED BELOW
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http://www.ttrader.com/mycharts/disp...twaves&id=1146Comment
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Looks like more Red ink for the Nasdsaq today ...
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DOWN ANOTHER 28 POINTS SO FAR ........Comment
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Gap closed now Lye. 1.5% risk setup presents right hereOriginally posted by LyehopperHere's the way I see the Fibonacci Retracement on GCO.... Note: This chart does not show today's price action (Low today was $42.3
Given market conditions, I'd stalk to the 50% line.... There's a little $0.03 gap sitting dead on the line, did you fellas see that?.... Pretty nice stock, I'm researching further.
http://img199.imageshack.us/img199/1165/gco6oe.pngComment
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hey em what do u think of TALX and KEYW.....nice to have u aboard!!!
cheersComment
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Originally posted by marketwavezHERE'S LOOKING AT THE WAVES IN THE NASDAQ
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The charts by Marketwavez are simply Elliott wave-counts that are believed to be what the given market is tracing out . Wave-counts are highly subjective and definitely not 100 % reliable... Wave-counts also vary from one person to another who may be analyzing the given market and also can vary based on the time frames that are being analyzed.....>>
2 CHARTS POSTED BELOW
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http://www.ttrader.com/mycharts/disp...twaves&id=1146
HIGHLY Subjective is an Understatement...How about HIGHLY subject to what anyone wants to say?...Pretty much garbage IMO...not 100% reliable?...IMO not even 10% reliable...I think EW is hogwash...I'm not trying to put you or anyone else down...But I just don't buy it...I think he is a good marketeer...That's about it...Best, Doug"Trade What Is Happening...Not What You Think Is Gonna Happen"
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