NYSE update; playing devils advocate with a possible new -bullish-count

Within less than 2 days sentiment has already changed from bearish to bullish. Wow, is all I can say. Since the SPX, DOW, WLSH (which came mighty close), COMPQ, NDX didn’t trade/close below the August low, while the NYSE did go below (very much so indeed), we need to always consider different possibilities and alternate counts for these different indices. Albeit the fact that price has broken below long term trendlines established since either November or December 2012, in the end that doesn’t matter if price does keep going up, since price is final arbiter, not trendlines, not technical indicators etc. So here’s the possible alternate count for the NYSE; presented in the yellow, red, and green waves (major, intermediate, minor, respectively) all labeled with a “?”. The other labeling is still the preferred labeling. This “?” count would fit with the possibility of the other indices extending if they decide to do so. That’s the only hope left for the bulls IMHO.

nyse 10042014

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8 thoughts on “NYSE update; playing devils advocate with a possible new -bullish-count

  1. Pingback: SPX update : why 2040 is next and maybe it for Primary III | Intelligent Investing

  2. Pingback: SPX, INDU, WLSH, NYSE, COMPQ, NDX update: something is rotten in the state of Denmark | Intelligent Investing

    • Hi Amy! Yup, major shocker. But I called that b-wave top in August to the T and warned everybody since and already prior to get out! 🙂 Just see under GTAT under the individual tickers. I expected it to find support at $8-$10, which it did for a day last week, but today was totally not anticipated. However, I continued to warn I.I. members every day in September to not try catching a falling knife. I hope you sold in August!?!? Btw, I am surprised they didn’t halt this ticket. Down 90+% is unheard off.

      • Thank you so much for asking…glad I was never in it!
        For some reason GTAT never look interesting to me, I like GOGO better.
        GPRO also surprised me, after you first introduced it to us, I was watching it went down to $38 and wow!…now is $92! Too bad didn’t catch the ride…
        Anyway, thanks again!

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