Monday, September 13, 2010

Momentum...

My apologies to everyone.. my cable line went out at 1a.m. this morning... and of course its just an outing in your area. It lasted till 5.p.m  or just a few min. ago. I have to say, perfect timing I did not get a whole lot of homework done, but my e-mail to all of you that I was working on is null and void now. It was a reminder of what the futures where already doing, and that I had a possible 3 of 3 scenerio that could happen. So, today was that 3 of 3 of C or 3 of wave 5 up. Now, we are inching closer to the completion of either wave 3 up or of wave 5 up... thats the two scenerios that I have for this evening... Most other analysts like EWT have us in a Wedge that turns and reverses.. sort of the same pattern we had in 2007, and I think we had the same in 2000, these  reverse wedges seem to occurr alot in wave B's.. at least that's what I have noticed over the yrs. so where does it all end.. well guys and gals that is a good question.. I have since Fri, indicators saying we are turning to go south, but with the MOMENTUM on the Bulls side right now, the corrective C wave we are in is only at 50% of the drop from "07",  I have to tell all of you I have never seen a C wave not do a 61.8% retrace.  So, the real question is, are we in a B wave still or are we in the C of B...???  So to break that down all B waves are usually 3 waves.. or 5 waves right.. being that we could be in a Larger degree B wave correction of Wave A.. we could have a 3 wave B wave.. consistis of an A, B and a C wave.. the wedge pattern acts like a B wave.. then we shoot up into C if that is the case then 1150 is the target or higher... to end the B wave in a Cycle degree.... my thoughts say that is the target.. my gut says it too..  1130 is acting as resistance and could end the top of wave B and we would then need to fall into the minuette to minor degree wave C down.. then we could still shoot back up into the final C wave of wave B... have I confused you yet... its crazy sometimes.. I am just going thru these off the top of my head as I am typing.. I wish I had a way to hand draw out what I see.. but hopefully you all have enough smarts to draw out these scenerios that I have given... just hand draw them.. gives you a better perspective of what I am trying to say. OK..  I am sorry about no updates.. I will bitch to WOW cable for all of us ... but it will do not good.. LOL!  Ok, be good have a good night.. if I see something unusual by morning I will update your mailboxes...before opening bell.. night all..>L

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