tag:blogger.com,1999:blog-12333088.post5612624492648903687..comments2023-11-10T05:07:19.026-05:00Comments on Carl Futia: Guesstimates on March 13, 2012Carl Futiahttp://www.blogger.com/profile/01624989905417650273noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-12333088.post-71360878090811160772012-03-14T08:09:58.111-04:002012-03-14T08:09:58.111-04:00Carl,
On a weekly chart, there appears to be no r...Carl,<br /><br />On a weekly chart, there appears to be no resistance before SPX 1440 or so. I see where you're getting 1415, but I think this is Wave 5 of 3, and Wave 5s often extend.<br /><br />Technically, we're in an air pocket now, and I think we'll get an explosion up with everyone who has been sitting in bonds piling in.Winhttps://www.blogger.com/profile/04040943114916173740noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-86565719546777474212012-03-13T17:11:36.129-04:002012-03-13T17:11:36.129-04:00Hi Carl
Just a thought that we can follow up on in...Hi Carl<br />Just a thought that we can follow up on in time . i mentioned xom yesterday and it is for the most part beginning to show some confirmation that point 20 is in place ( obviously the market is right 1st so this can change ) im beginning to think though that we should consider the low in July 2010 as a beginning phase of a basic advance , in doing this i have to consider the rise from march 2009 to april 2010 as a subnormal advance , the decline from april 2010 to the july 2010 low is outside the parameters of a basic decline yet ill leave that for another day . a 3 peaks domed house pattern would have to begun from the july 1 low ( nya cash index ) pts 3 4 5 6 7 would have to be considered from feb 18 2011 to july 22 2011 ( only 5 months )<br />pts 8 9 10 into the oct 2011 lows <br />this then would label pts 11 12 13 14 the sideways action into dec 19 2011 . from here it gets tricky .<br />point 15 could have peaked feb 3 2012 ( i believe lindsay stated never count pt 15 to soon ) if so then we have pts 15 16 17 18 and now 19 forming an expanding triangle ( this labeling would call for a decline back to or just below the march 12th low ( $nya daily chart ) The problem with this count is obvious , point 15 is not above point 5 yet looking at the dow i can still make the same count from the july 2010 low so at a minimum i intend to start counting the basic time spans from that date . from what im looking at between xom nya and the dow i have to conclude its to soon to actually count pt 15 in place even though im looking for it .looking at my own adv decline data on the nyse ( nya ) we have made 3 main lows aug 8 2011 nov 25 2011 and march 6 2012 .( approx 3 months apart )i can break into 4 .<br />these periods aug 8 to aug 31 <br />sept 22 to oct 27 and nov 25 to feb 3 .Aug 8 to Oct 27 = 80 cal days. nov 25 to feb 3 =70 cal days <br />shorter term durations .aug to aug 31 = 23 days sept 22 to oct 27 =35 days dec 14 ( higher low ) to feb 3=40 days . and march 6 2012 was a low .Bottom line , i want to be bearish yet simply cannot justify it , i have to remain in a bullish posture and allow for at least 23 to 80 days following the march 6 2012 time frame before i can consider it . next comes the Lindsay time spans from july 1 2010 as well as the time parameters of a Typical 3 peaks domed house pattern .<br />The market is indeed looking Bullish .<br />all for now <br />JoeAdsensehttps://www.blogger.com/profile/08031892140855200123noreply@blogger.com