Channels

Sorry, for not posting sooner, spring, its my favorite time of the year, right after winter... you see I like all 4 seasons...My lilly's needed some attention.. Here is a wonderful saying....


    All through the long winter, I dream of my garden.
  On the first day of spring, I dig my fingers deep into
    the soft earth. I can feel its energy, and my spirits
                             soar. ~ Helen Hayes

Being a farmers daughter, I just can't wait to get the onions and lettuce planted, and I had to get those lillies separated...its been a harsh winter. Even the paint on the barn took a beating...
Unusual weather right now, had to take advantage of it.
Back to the Market...  we have broken out of my channel on the S/P, and have fallen back inside the channel and the channel line has become resistance... the question I have been asking myself is.... was that the  wave 4 of 5, that broke the channel?  or 4 of 3 ?  Elliot wave interpretation is sometimes not fun, so, we should be getting ready to do a correction of a minor 4 so that would take us back to around the 1147-53 area,  that would take us into another triangle.... OK, thats interpretation 1....  What if we are in the ending diagonal triangle that some are talking about... there is support for this scenerio... but I am not in favor of it... my larger degree channel top that goes back to Sept. is calling and it intersects into this minor channel at around 1200 and peaks at 1212 area.. so that is the next area we will see after this smaller degree correction takes place... so that is what I see for now,,, let me know if you agree...  OK, on stocks, I like UPS, GE, IGC(i really like this little stock! India based.. might be a keeper for the long haul.. kids portfolio etc.)  Materials took a little hit today and will have a nice pull back.. so look for a good trade in that area... EXP.. RTP... so on..and one of my all time favorite stocks that has made me some $$$ MA  mastercard..., sometimes I do not mention some stocks because they are high priced, but when they bust a move they really sing, I find better price movement amongst stocks like RTP/ MA/ PCLN...etc.. these stocks can make you cry too though.. so you must be careful...but MA is currently in a nice channel trade..  OK< gotta go dig some more..have a great evening...>L