What to look for going forward – Part 3

Well, what an eventful few weeks, 99.9% of the media have been expecting a fall or the start of a fall – It is coming, just not when everybody is talking about it and expecting it.

If you refer back to the previous parts of this post you’ll notice I was looking for new highs as my main preference – remember no-one, not even me, knows precisely and exactly what the markets will do – Well the new highs are in, this has knocked the Elliott Wavers off track once again.

Right my March TIME CYCLES are now highly relevant, key dates are 7th for the static TC and the 29th March for the dynamic TC – Caution is now needed.

The trend is still to the upside, we have to have some form of bearish price movement to dispel this fact still, I’ll advise when this has happened.  the key reference point is now the Feb’14 LOW (Red Line) If that is breached during the next month time to sit up and listen to the market, until that happens the markets still going UP.

I know what the fundamentals look like – they’ve been bloody terrible for the past 5 years but that’s not stopped the market from climbing and defying logic for 5 years!  Welcome to the markets where common sense and logic don’t feature.

Daily S&P500 blog

As you can read on the chart above some of us caught the very bottom, I’m afraid you cannot get much better than that, it would be alright if it was a one-off fluke, but we manage to do it on every low – these sort of trades make your head swell to gigantic proportions and give you a feeling of superiority which will be quickly put in check with the next loss (which will be soon).

Still a 4R profit on a 50% system gives very good returns over the year

 

Advertisements
Leave a comment

Comment Here:

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: