tag:blogger.com,1999:blog-12333088.post4691163735676149885..comments2023-11-10T05:07:19.026-05:00Comments on Carl Futia: UpdateCarl Futiahttp://www.blogger.com/profile/01624989905417650273noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-12333088.post-65973329796169577612010-01-11T15:43:41.921-05:002010-01-11T15:43:41.921-05:00Carl,
No rest here.
In Elliott Terms, we are i...Carl,<br /><br />No rest here. <br /><br />In Elliott Terms, we are in the subwave III up of the final Wave V up before a meaningful correction. I'm looking for us to get into the 1155 range before deploying short funds. <br /><br />For now, I'm eyeing the 1110-1120 range as there is a large unfilled gap in this range. If this holds, I would expect to have another higher high in February. If this area does not hold, I suspect the top is in and we will be on our way down towards the S&P 400 range in the next 12-18 months. <br /><br />Sorry to put a damper on your 'bull' parade.Unknownhttps://www.blogger.com/profile/04586265457583579477noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-66507255742285031422010-01-11T14:17:48.931-05:002010-01-11T14:17:48.931-05:00Carl,
We are simply finishing up one last final S...Carl,<br /><br />We are simply finishing up one last final SubWave V of of Wave C of a larger ABC wave formation that started in November. That being said, I concur that there isn't really a bubble here, but suffice to say that this market is simply being lifted by the billions of articifial stimulation. I received an email over the weekend that we have seen 30 out of 42 up Mondays since the March 2009 lows and 18 out of the last 20 Mondays. Just using these 30 Mondays has comprised 80% of tht total cash gains from last year's lows. <br /><br />Whatever the reason (i.e. automated computer trading programs). These continued low volume trading days will catch up to this market. Using a basic head and shoulders formation, the market should get to 1200 and crash thereafter. <br /><br />I wish you and others luck who think we will see a bull market the remainder of the 2010 market year without any justication or analytical information to share. Because, this rise has nothing to do with fundamentals or forward-looking principals.Unknownhttps://www.blogger.com/profile/04586265457583579477noreply@blogger.com