Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Sunday, 5 May 2013

Dow Industrials

I am short this into the 15000, but I have been poking at this for a while now trying to pick up cheap pips and finding them rather expensive! However, a look at the moms on chart 1 shows the 400day MyWave well extended and no bottom cycling for too long now. The 400day fld and trend line sits down at 13300 and this would be a reasonable outcome for all my trying, but one hopes for something bigger to come of course, to add into. There is divergence across the RSi since the last fld interaction and that whiff's of 5th wave action. Add in the moms too and well, I think I am going to get my monies back plus some. There is neg divergence on that spike up on Chart 2 but this timeframe already had a cycle low before this drive up, so not certain that we see an immediate drop without the usual drawn out ending pattern to burn time. I'll take my chances on a pull back regardless into the spike and worry about the rest later. The 50day and 100 day fld s are close enough to grab price action again down around 14500 and that will be fine for me for the next cycle low on this timeframe to bank some. Chart 3 shows the 25 day wave and it certainly did look like a wave 4 before the spike, so if we are in the 5th..... need to see that wave turn down to get really excited. We will see.

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