and if u look real close at u r charts u will c a top in the 985 area DURING THE STRONG DOWN DRAFT PHASE OF MARKET
this appears to be a very unusually strong A leg INSIDE of what would be a normal abc counter trend bounce.
i thought that "a" was 956 and "b" was 869 AND we are now in "c". I THOUGHT.
but constant review of charts is suggestive this isn't the case.
SO i believe this abc IS all FINISHING a OF THE GREATER ABC COUNTER TREND CORRECTIVE PHASE.
we'll know if i'm correct.
OR NOT very soon. and i supect this is why many of the T counters and such have labels for spx 1200 by next summer.
if we get a 50% correction from this level AS THE CHARTS SUGGEST WE WILL then yes we can all be right. and that would move the market crash out into the FALL OF 2010 after mid term elections maybe even 2011
THIS GONNA BE FUN TO TRADE they model our models for us THIS IS WHY IT'S BEST TO WATCH THESE CHARTS a bit and let them setting out a pattern.
991 TO 985 TOPS i'll start believing i'm right.
838 to 828 correction THAT would move in 3 defined simple steps WE ALL START TO BELIEVE I MAY BE RIGHT.
AND THIS IS WHY THE T traders have the signals they have. WOW i had to dig because these types that model "T" aren't often wrong.
NOW i c why they may not be and now i understand why we are in their prior T ZONE. first real correction of the bear rally inside ABC counter trend structure is getting clearer.
also explains why they loaded up on index puts FOR ALMOST zero AFTER KILLING THEM ALL.
wow CCCCCCCCCCC GOLDIE AND THE BUNCH AREN'T SO BAD they have now GIVEN US THE PICTURE.
979 could be the top but 10 points isnt much. Just 979 will be better since it will be a double top with neg divergence. But with everyone going omg s&p 1000+ it won't get there. People have very short memories... Two weeks ago everyone was looking for the low 800s and look what happened. When a side gets to heavy it creates a opposite reaction and so the rug might be pulled out on the bulls. And a lot of these bulls are the new converted bulls. Also were coming up on huge resistance from early october when the market was really volatile. If the market couldn't break though these levels with huge swings it won't now.
I too see 990 as the top. I think we will see a big run up on Monday and when we hit 990 the profit taking is what will start the slide. All the fund managers and traders realize 1000 is huge resistance and will not want to get caught with out booking a profit and will start selling about 10 points short of 1000. GLTA