tag:blogger.com,1999:blog-12333088.post3273858719945428131..comments2023-11-10T05:07:19.026-05:00Comments on Carl Futia: Guesstimates on December20, 2012Carl Futiahttp://www.blogger.com/profile/01624989905417650273noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-12333088.post-84160622157504800562012-12-20T21:22:48.150-05:002012-12-20T21:22:48.150-05:00pimaCanyon, Correction on the time stamp. I am on ...pimaCanyon, Correction on the time stamp. I am on Pacific time. So, the /ES limit down was at 8:18 pm EST, long after your posting.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12333088.post-63291174760777826782012-12-20T21:07:56.486-05:002012-12-20T21:07:56.486-05:00pimaCanyon, Oct 2011 was the culmination of wave 4...pimaCanyon, Oct 2011 was the culmination of wave 4. We have had three peaks since then. Sept 2012 was the third peak. Upon retracement of 61.8% after the third peak, the odds are in favor of a trend reversal. If the retracement into Nov 2012 was wave A down, we should now be wave C down.<br /><br />The time stamp on your posting shows that it posted after ES went limit down at 5:18 pm. Maybe, you wrote it earlier.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12333088.post-70566439245661828762012-12-20T18:03:25.504-05:002012-12-20T18:03:25.504-05:00Kishore,
You wrote: "The Sept-Nov sell-off r...Kishore,<br /><br />You wrote: "The Sept-Nov sell-off retraced 61.2% of the rally from June-Sept 2012. Therefore, it is unlikely that we will exceed the Sept top."<br /><br />But if you look at the SPX chart, here's what you'll find:<br /><br />1) The drop into the 11/25/11 low retraced exactly 62 percent of the rally that preceded. After the drop, the market went on to make new highs.<br />2) The drop into the 6/4/12 low retraced almost, but not quite, 62 percent of the rally that preceded it. After the drop, the market went on to make new highs.<br />3) The drop into the 10/4/11 low retraced more than 62 percent of the rally that preceded it (actually about 80 percent retracement). After that drop, the market went on to make new highs.pimaCanyonhttps://www.blogger.com/profile/09477196225992507658noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-135565205503411412012-12-20T09:34:08.516-05:002012-12-20T09:34:08.516-05:00Silver futures support breached. SI_FSilver futures support breached. SI_FAnonymousnoreply@blogger.com