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[Featured Post] Why There’s An 80% Chance We See 20,715 or 33,346(!) in the DOW – Long Term Elliott Wave Analysis

gem-x — Sat, 25 Feb 2012 06:53:58 +0000

“..The bottom in March 2009, again was the FINAL BOTTOM before the bull market that started that month..” “…The most insane 3rd wave target for the DOW, which I haven’t mentioned in any of my videos and charts is the W3 that’s 1.618 X the percentage gain of the W1. The first wave travelled...

Closing Bell Update: We got 5 down, but didn’t trigger

gem-x — Fri, 24 Feb 2012 22:43:44 +0000

5 down into the close, but a pretty wild close as we swung back and forth before closing at the midpoint of the range…I had a trigger to buy AAPL at 519, and on the 5th wave it dropped in a truncation to 520.25 before rallying back near the highs…

3:33PM – 5th wave down could be occurring now

gem-x — Fri, 24 Feb 2012 20:33:55 +0000

watching carefully..

3:17PM – Looks like 1-2-3-4 down with a 5th possible in the SPX DOW NASDAQ

gem-x — Fri, 24 Feb 2012 20:17:52 +0000

We have 1-2-3-4 with a pure upward 4 before a potential 5th down..if we get that 5th down, my stop to buy will probably trigger..

2:54PM – [premium] Placed stop to buy

gem-x — Fri, 24 Feb 2012 19:55:18 +0000

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2:51PM – 4th wave bounce off the lows..gimme a 5 down =)

gem-x — Fri, 24 Feb 2012 19:51:58 +0000

If we get 1-2-3-4-5 down in a full impulse I’m ready to jump in…just waiting for it to occur.

2:36PM – SPX near A = C intraday target

gem-x — Fri, 24 Feb 2012 19:37:03 +0000

A = C is 1364, but downward 3 = 1361-1362… If it’s A = C could be a good time to buy, but we need to rebound by at least 3:05PM today..

2:29PM – DOW acting like a heavy brick..now it’s dragging NASDAQ and SPX..but zigzag would be nice here..

gem-x — Fri, 24 Feb 2012 19:30:15 +0000

A lot of calls at 13,000 in the DOW expiring (DIA) so it makes sense for there to be resistance there as stated earlier…might be an opportunity to buy if a zigzag forms..

2:21PM – DOW fading from the highs, but NASDAQ and SPX have rebounded back + Reason why 13,000 is a barrier

gem-x — Fri, 24 Feb 2012 19:23:10 +0000

DOW is acting like a heavy brick, but it’s the only laggard today of the 3 indices..SPX and NASDAQ are still near the highs, and both indices could help push DOW back later…it’s option expiration, so 13,000 is resistance for one reason. It’s a round number with a lot of calls expiring today, so it...

S&P/SPX Visual 6 Month Chart – Mid Term Upward 3 Target

gem-x — Fri, 24 Feb 2012 18:52:38 +0000

1:47PM – DOW starting to act triangular (ABCDE)..13,000 = No Fibonacci Significance

gem-x — Fri, 24 Feb 2012 18:47:45 +0000

We might do the “ABCDE” triangle thing in the DOW’s 10 day chart…we’ve weaved in and out of 13,000 in the previous 2-3 days and it’s acting somewhat like upward resistance..but it has absolutely no fibonacci significance behind it, so they could easily push it back over the intraday highs by the close..

1:17PM – Big guy sell time happening now (1-2:35PM)…

gem-x — Fri, 24 Feb 2012 18:18:50 +0000

If the indices can survive this period and not “peak n’ fade” at 2:35PM, it could easily sustain into next week…a new high at 3:05PM today would draw me in..

12:47PM – The last hope for the “Double Top” and “P2″ people..detailed explanation why they’re hoping for nothing

gem-x — Fri, 24 Feb 2012 17:47:07 +0000

The “Double Top” and “P2″ bears think that we’re either going to: 1.) Double top – this analysis works maybe 40% of the time and I guarantee you if you traded off this lazy form of analysis you’ll lose your shirt. DJI and NASDAQ already took out the top of this so called “double top”...

12:22PM – SPX right on the edge of …KABOOM ^ ^

gem-x — Fri, 24 Feb 2012 17:23:25 +0000

1370.58 is all that we need to take out in the SPX…again, the 5 year chart clearly has W1, W1 zigzag and W3 pattern break setting up..the trifecta of the DOW NASDAQ and SPX breaking into 3rd waves is definitely going to get people talking..

S&P/SPX Visual 10 Day Chart – W1, W2 zigzag, W3 setting up

gem-x — Fri, 24 Feb 2012 16:47:02 +0000

11:31AM – Would consider another re-entry if a zigzag forms today..

gem-x — Fri, 24 Feb 2012 16:30:26 +0000

I already sold all my positions near the base of the fade from the highs, and I’d consider a re-entry if we get a corrective ABC zigzag from the highs..but we’re touching the intraday highs again in the SPX and NASDAQ, and SPX may test 1370.58 shortly..

11:11AM – Before I could blink, we’re back near the highs in SPX and NASDAQ

gem-x — Fri, 24 Feb 2012 16:12:06 +0000

SPX breaks 1370.58 and that would setup the pure upward 3 on the 4 year chart…highest target 2215(!)..that would be W1, W2 zigzag and W3….that’s actually a conservative target if it travels the full 1.618…

10:56AM – Looks like we may go at least triangular here..

gem-x — Fri, 24 Feb 2012 15:57:03 +0000

May form an ABCDE instead of going straight into an upward 3…a triangle isn’t a bad thing, but it’s no guarantee the coiling action will setup an upward spike..

10:29AM – Deep fade from the highs = sell everything for profit lol

gem-x — Fri, 24 Feb 2012 15:30:57 +0000

I usually sell positions like this between 10:15AM-10:30AM, but I was little late…I sold near the low of the fade but I have a feeling that this fade may get deeper..like in a triangle..

Profit $360 in the TQQQ wahoo

gem-x — Fri, 24 Feb 2012 15:28:40 +0000

$360