good morning – today is series s3L , WILD CARD DAY, and the SPILL is UP.Yesterday we had Inverted T’s, they scored.
We are closing in on the expiry.I have not sent out the 78 cash for a bit due to the 5 min crappola being so deadly as regards the RED (4) box bit and the ensuing rally.
You may or may not want to pay attention to it It is easy to replicate .Also, every person who ever fancied himself a technician has their eyes on the 50 day SPX MA and different data vendors calculate the continuation charts differently, there will be many with the their eyes on the 50 DAY SPOO MA.
NOW, you also have the same old 5 min SPX (^SPXPM) I provide daily for the sardine’ista’s that also tells a story for the Tuna crowd and a slight pictorial for the Marlin catchers.Look over to your right and take a gander at the retraces .Before you get all flustered trying to find the 1886 ANCHOR . please remember this:
The SPX is a price memory machine often recycling prices of critical value.Bottom line: when we nailed the 1808.5 SPOT low in the April 11-15 bottoming price formation (11814.36 cash) there were 4 critical prices given way in advance as targets for the UP if the ascending diagonal conservative traffic light died on a trade above 1914 cash.Those 4 prices were 1954, 1968,1986, and 2014.The implications of each were presented in the commentaries and on the charts.NOW the MOE error in my work is 2 handles, so go back to the 78 min chart because the 5 min chart only shows two of the mechanically valid RED 3’s.Ok, The ANNABETH and the TRUNCATED TRIANGLE 3 on July 29 are both within the MOE of 1986!!! So, that is why the 1986 is used.
WHAT DOES ALL THIS MEAN and why should I give a flip??????????? ?It means we are with a gnats’ arse of a big FOCB and that is why the posts to that effect ere left multiple time Wednesday.It means that if you took the long on the turn –you have a decision to make.It means you need to KNOW that every member of the pencil andd eraser set who has a drop of bear in him sees this as B or 2 and that we are getting ready to DUMP.It means that every Bull who was not turned into a steer KNOWS we have to accelerate through the 1950 cash, 1955 cash MOE , and convert the 1963 SPOO SPOT to SUPPORT IN A wave 3 nano style move.It means we have to assign BEAR committed and confirmed prices at the 1935.5 committed and 1924 confirmed.Lastly, it means look at the chart… PS ,the skill in EW is really revealed in corrections and I will say that the bane of counters in the rally in BIG ARSE 3 from 1074 is they have assigned 5 downs and 2 ups incorrectly when they should have labeled them as A’s , B’s, and X’s imo.SPOTS TA ROUNDIUES…
FV -3.58 NUMBAHS S3L very slight iffy 08/14/ 2014 SEPT 2014 contract
PIVOT 1941.3 1920.1
S1 1937.4 1903.6
S2 1930.2 1883.6
R1 1948.5 1940.1
R2 1952.4 1956.6
MAX H 1942.0 1976.6
MAX L 1942.5 1867.1
1940.0-1951.1 Primary 1911.9-1948.4
1933.8-1944.9 Alternate 1893.6-1930.1
1959.6 HIGH 1912.0
1926.3 LOW 1905.9
OPG 1937.5 1923.3
H 1945.1 1936.5
L 1934.0 1900.0