The old fart I am!!!
On Friday I changed my “prognosis” from “Top on SPX September 9th-10th” to “September 6th-9th” because some hidden switch in what I have left for the brains short circuited and I sincerely convinced myself that WAVE 5 prints when bar 21 is lower/higher than all of prior 21 bars.
Someone really needs to put me out of my misery and quickly approaching “golden years” (there is NOTHING “GOLDEN” about it) or just point me to this link
on my site which I created for people who just start with DeMark indicators, but looks like I, myself, can use a refresher from time to time.
It is 34 bars you idiot! Yes Dave – I am talking to YOU!!!
So SPX is indeed in DAILY WAVE B ( as I warned many times – famous for being difficult to trade on any side) AND it is STILL in vicious uptrending impulsive Dwave 5 on 30 minutes chart!!!! (which I use for shorter term targets)
Which, of course, was never suppose to be completed today, but… let me see …optimistically by the end of tomorrow, Tuesday September 10th somewhere around 1675-1677!
That is when daily wave C down will start with initial target around 1585, but I think it will extend into the end of October.
Other than that – my “down into Sep 18th, up into Sep 27th, down into the end of Oct” stays intact … for now… Do not know how far down SPX will go by Sep 18th, but by Sep 27 it might be almost on today’s levels ( most likely will retrace 62% of the drop to confuse everyone before any real pullback.
Source: http://www.trading-to-win.com/2013/09/the-old-fart-i-am.html
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