FTSE 100 January

[bonsai]

lol

you are right of course.

anyway, who cares where the markets going ?

traders don't. AMV probably does ?

lol

 

[Hooya]

moved into short term oversold but 90 support seems to have gone, I have a pivot support at 85 but also there is that gap tp fill at 76.

edit and a 1.168 X A for C will close the gap according to my figs

 

[Hooya]

double volume spike on yahoo chart.....interesting,...

 

[Hooya]

c'est possible?

but I guess you would be thinking we are in 3 of C now??

 

[bonsai]

hmmpfhh ?

my chart shows the high as this morning.

so diff count. looking at 3 of 5 of C

(your III has 7 legs)

 

[Hooya]

lol thought you might say something like that.

Todays high was just short by 0.3 on my candle chart. ANd
Im not sure why I have this in my head but arent 2s usually a
clear abc? Thus your count is most likely and we still have a few gaps to fill.


But the 10 min chart looks completely different.

 

[bonsai]

I usually count a 5 wave correction as a B, at least to start with

and an abc as a 2.

its not fool proof because the count can be uncertain.

edit
but some 2's can be so quick, they defy a count other than at the tick level.

 

[bonsai]

try this ?

some of the detail is lost

 

[Hooya]

makes a nice 5 legs for 3 instead of my 7


edit: so many possible counts but they all point to being in
some sort of C. Actually it is trying to channel which supports a
5 leg C. (I think) and at present it is taking the shape of a diagonal but could still be forming a parallel channel

 

[hungrybear]

Bonsai, my chart shows this morning as a lower high, as per Hooya.

I'm undecided if this is an abc or something bigger. We certainly overdue a decent retracement in all markets.

 

[Hooya]

have you noticed the "ads by google" at the bottom of the board?

I wouldnt like to trade one of the "winning alerts". I quote

"Max. Drawdown: 520%" !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!LOL


edit: and for a bit more fun....Which trendline to trade mmmmmm?

 

[bonsai]

HB
thanks for that confirmation.

sometimes happens because I dont use candles.

that being the case we may be a lot earlier in the wave count.
with more to come.

I have fib at 4446

 

[bonsai]

hooya

speechless !

 

[Hooya]

LOL the funny thing is Im not sure whats worse, a 520% drawdown or a chart that looks like that.

 

[Hooya]

sloppy sidways action


edit: has now broken upwards but could be a 4?

 

[bonsai]

each fall sems to have been a series of 3's.

not looking good
or put it another way

looking very good.

lol

 

[Hooya]

whats the ad look like...had a few brief looks on ample today
and doesnt seemed to have changed much?

 

[bonsai]

tv pic

 

[Hooya]

same as ample. Holding ok considering UKX is 35 points down on the session

 

[bonsai]

started about 40 and rapidly fell to -15 then up to +20 about 10
then down tp -18 about noon back up to 0 for the Dow and back down again to -12.

so tracking the market quite nicely.