Yesterday's SPY closing phantom bar is fulfilled today.
Another SPY closing phantom bar today, plus the phantom bars at 3/12's closing, I guess the OE SPY will close between 72 and 76. (Note that currently SPX EMA(13) =~ 740)
The rally starting from 3/9 has no pullback so far. This looks like irrational climax run.
Remember I mentioned the irrational no-pullback phenomenon around 1/1 and 1/28/2009, when it was Elliot top point 0 and point 2.
It is likely we are looking at the formation of point 4 right now, see Cobra's Chart 0.0.3. $SPX may touch the falling wedge's upper line at Elliot point 4, which is lower than point 1 made on 1/20/2009, conforming to Elliot's wave's definition. Finally we will see a meaningful bottom of point 5 at 64x.
Today Feb.26's phantom bar is finally fulfilled (in 12 trading days, still within swing trade timing interval).
15-min chart shows an obvious rising wedge, with 3rd touch on the upper line and break out off the lower line during today's trading hours.
A phantom bar at the closing today indicates a possible retest of the rising wedge's lower line tomorrow, then the break of the rising wedge will speak out for itself.
bayliner1979 发表于 2009-3-16 17:27
Yesterday's SPY closing phantom bar is fulfilled today.
Another SPY closing phantom bar today, plus the phantom bars at 3/12's closing, I guess the OE SPY will close between 72 and 76. (Note that ...
bayliner1979 发表于 2009-3-17 16:21
狗仔卡
发表于 2009-3-16 10:31 PM
thanks a lot, lao da Bay
发表于 2009-3-17 08:28 PM
