3:23 - UPDATE- I don't friggin get it. this is almost as good as it gets. You should be able to enter short of the bear MACD cross. This should be it. Did I mention the double top?
Possible H&S on DJUSFN? You tell me if I am seeing things or not.
Short candidate #1 - STD (gotta love that symbol, adds to the deliciousness of the play. You can't just google that symbol and get to the stock analysis LOL). Yes those are all massive gaps. A=C at 13.29 and that is right where a LT upper resistance line lies (if it should get thru this resistance point). Just a slight divergence here. First target is around 11, but I believe it sets a lower low if not go out of business in a year or two. I love all those gaps that need to be filled and especially the tow islands that were left (one this morning and one at 9.28 OUCH!). I am not short - this is just the first stop on my shopping spree.
12:11 - UPDATE - Possible reversal candle on the 30m mins. This does not look good, but you can;t rule out one more pop. This should be it though. I refuse to short till after lunch. when I do it will be about 1/2 a position with semi-tight stops. I will be looking to go balls deep soon I think. Got to test the waters and make sure this dream set up is real. Can't lose this one to any premature events.
10:05 - UPDATE - New 60m minis chart - upper TL cracked but it is only a tail thru there for now. SPX at gap resistance. The same one I said would remain open for years the other day and my intern told me not to get ahead of myself :-(. On the SPX some nasty divergences are being set. Note the blown out upper BB on this 60m chart as well. I'll give you a chart there soon.
I'm in cash looking for opportunities. Bernanke speaking. "Uncertainty" is real. I'm watching this chart. 15m appears to have topped. 30m has only that MACD that concerns me. 60m is topping but has some room to run. What can you say other than it is consolidating in a triangle. This is a big ass 2 for you EWT folks. I have no idea if we are in 2 or 3 at this point. It can go down from here or pop up and overthrow the wedge top line (which would be cool as that would satisfy a lot of missing things). Price is at 81 resistance right now. I'll be looking for divergences. If the minis can climb to 88/89 area they will be nasty.
I forgot to mention that is Leland's count is right it ramps up. If Inc's count is right the bottom falls out. the suspense is killing me!
