NYSE at key long-term support

NYSE is now at the lower trend line of the channel that has kept price in check since Nov. ’12. Break down below would be bearish for the foreseeable future. But since the count suggests this wave down is now in its 5th and last wave down, we may see a flush below and then…

Trade update

I am on travel and can’t update my trading log, but I wanted to inform that I added SSOs at SPX 1777 to my SSOs from SPX 1793 position bought past Friday. I also bought SDS at SPX 1795. This is a longer term position for my expectation that the market is now in PIV…

SPX update 1/26/2014

Not much new to add since the last few updates. Still preferring that Primary III is in. Per EWT Primary IV will now have to retrace most or all of Major 5. Which means we’ll see low 1600s again since Major 5 started at 1627.47.

SPX micro counting…

IF the count is correct, then micro (a), (b) and (c) of minute ii just completed, with c=a (1851-1835, 1849-1833). time will tell. Bollinger Bands on the daily are getting very tight… (Not shown here, as this is hourly chart) BIG moving around the corner IMHO.