There are times when this tide stuff just seems to be another smoke screen in the ever daunting task of trying to determine market direction. And then there times like now when it is spot on and like taking candy from the proverbial baby. Guess that's what makes it all interesting and intriguing.
So, we apparently head on up into the 11/11/09 date as a high. Interestingly, the same date coined as WWW by Don Wolanchuk and infamously known for a period of weakness prior to options expirations. So...........will WWW give us a low and the following trend an incorrect tide trend that morphs from a bearish one to a bullish one? Will we instead tag or penetrate the upper trendline as we approach turkey day here in the states? I'm leaning that way, but with some caution. From a personal standpoint, I am probably 75% long throughout all personal accounts and 401k, waiting for a signal to either go further long or take some off the table. I think the next week to two weeks will tell a lot about where we head for the next several months. If I were a betting man, I would say we trend up from here into mid February 2010.
So, we apparently head on up into the 11/11/09 date as a high. Interestingly, the same date coined as WWW by Don Wolanchuk and infamously known for a period of weakness prior to options expirations. So...........will WWW give us a low and the following trend an incorrect tide trend that morphs from a bearish one to a bullish one? Will we instead tag or penetrate the upper trendline as we approach turkey day here in the states? I'm leaning that way, but with some caution. From a personal standpoint, I am probably 75% long throughout all personal accounts and 401k, waiting for a signal to either go further long or take some off the table. I think the next week to two weeks will tell a lot about where we head for the next several months. If I were a betting man, I would say we trend up from here into mid February 2010.
11 comments:
Larry,
This seems to be a wrong chart from last month.
Thanks, Joe
Thanks Joe. Yeah, I noticed that after awhile and got the correct chart up. Fixed!
Thank you, Larry! I am actually also hoping for the C of an ABC correction to start the next leg up in the bull market. The only thing is if everybody waits for a correction it just does not materialize.
Joe
Looks like the tides have it again and we move up until Wednesday. I'm not sure what WWW relly means other than a change in trend day... and that would tie in very nicely with the tides.
Joe
Looks like the tides have it again and we move up until Wednesday. I'm not sure what WWW relly means other than a change in trend day... and that would tie in very nicely with the tides.
Joe
Joe are you calling this move to es 1091 B wave. now looking for C down to complete the abc correction
in line with the 11/11/tides turn ?
I don't expect any new lows below the early November ones any more. But a correction in line with the tidal dates is probable and I will certainly look to go long again.
Joe
Larry, not much of a pullback, so far are you still looking for the 16t for a support area/ bottom
I am new to your work but am enjoying.
benmatt....yes, the 16th as the bottom of the pullback. Keep in mind, history of the tides tells us that the trends are correct 75% to 80% of the time, so there are times when they are wrong. In this case, it seems to make sense to me that we could pullback into the 16th, then on up into turkey day. We'll see, huh ?
Larry will you be updating your blog on Saturday.Very interested in your thoughts for Monday mmoving forward. Awesome the 11/11 WWW day. Have we now completed an ABC correction ??
benmatt....saturday/sunday and midweek seems to work pretty well for my updates, so expect as much in the future I guess. Sorry but I'm not much of an elliot wave guy....its on my do list at some point, but...having said that, you could probably convince me of any wave count you wish. :)
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