In my prior post I had few 30 and 60 minutes Dwave SPX charts that points to 1610 as a result of possible wave 5 target. But if trading was as simple as blindly following some magical technical indicators then everyone would be poor. WHAT???!!!
How is that IF everyone can be winning using technical analysis can be poor? well, money has to come from somewhere – and if everyone is winning – who is losing? Sounds like a 0 sum game and then everyone is losing because of costs of trading.
that being said – I am sticking with my September 7th-10th next sell point with Lows at he 3rd trimester of October.
Speaking of “sell point” on Sep 9th +/-“ – that might be 60 minutes wave 4 extending to another shoulder area and then going down as wave 5 to 1610 target area with intermediate “buy point” (short lived indeed) around Sep 20th. Just a speculation indeed as of now. But the point is –
TREND HAS CHANGED TO DOWN AS OF AUGUST 2nd 2013
and any new “tops” should be seeing as short entries
In addition – some quick observations as follows:
Gold and silver by September 9th will set new marginal highs just above recent highs to complete Dwave C
Oil will continue up
Natural gas might move up just a notch, but will go down to almost 8/9/13 lows
$DJU 2d ready for bounce
Dollar started leg up and from this point on “currency debasement game’ FED is playing is a lose-lose against other countries games played more successfully than that of ole’ no more good USsA