S&P500

Hi
This is a very viable count, but that area 1525-1530 is proving to be really stubborn. If it gets through, then 1550 area is defo next stop for the iii, then a iv perhaps testing the 1525 area from the other side, to then finish iv in 1570 area. Followed by a deeper larger degree wave iv timed for April / may, sell in may and go away thing!

Nice and neat! Lol! If only....... Let's see.

What is interesting is the day when you had the huge surge earlier this week, the POMO from the fed was massive compared to the other days.

G

www.newyorkfed.org/markets/tot_operation_schedule_130228.html

agree with you on that G.

if the market reverse back of that level and we get a close below 1500. then it is almost certain that the correction has started. however the first signs will be a close below 1514/15 and then a confirmed close below 1500/1498. imo

as long as 1515 to 1510 holds up then market has a shot to the upside esp if it take out 1524 and closes abv it. after reviewing charts after close last night, i have to note that it's starting to tell me to start applying some caution. perhaps it's abt time to start picking spots for shorts. lets see what next week brings and what levels are tested and respected.

in the meantime it's all to play for

Hi
It looks like the wave iii of wave 5 is underway. So we need a wave iv and v to finish this of a wave 5, then a larger correction to start later in march/april.

Let's hope it stays nice and neat.

G

we can relax a bit now....esp since we closed not only abv that 24/25 but 34 also.

minimum target for this wave now achieved yesterday and in addition to that invH&S target being satisfied posted earlier and mentioned on chat yest, however to confirm the below numbers are required to confirm one way or the other....

i now see signs for an imminent correction -divergence appearing 1hour and rsi on daily @80+ that wont confirm until a close below 1534 for an imminent Short term correction, unless spx can take out 1560 and close abv it and negate that divergence altogether and most importantly that Price... i believe the ST correction to be an Int wave IV of Major 3 which could be approx 3-5% in the interim if it when it confirms..

dl.dropbox.com/u/40497882/SPX_1HR_Mar0813.JPG
dl.dropbox.com/u/40497882/SPX_4hr_Mar0813.JPG

rgds WS