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Wednesday, August 5, 2009

Thank you Filipe!


I want to thank Tomorrow should come down hard on wave three.
We are below the channel
The count works beautifully,
and the Euro peaked with a flare, and should fall over night, taking the SPX down in the morning.


Here is a larger view of the Euro.
There appears to be a good possibility of an ED here too.


Here is a larger view of the S&P 500. The Ending diagonal is a very real possibility for both markets. If not it's still the same count. but with an ED we know where it will turn.


I have decided to fully endorse this count. I had seen it too, but when Kenny began to insist that this count made better sense I climbed on board. There is no denying that the missing 5th wave that left us holding short positions is all too obvious.

So Kudos to Kenny for being bold enough to buck the popular belief, and tell it the way he saw it.



Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

2 comments:

  1. Thanks Bob for your acknowledgement. Despite my primary count says me SPX is in P2 i like very much this your chart:
    http://1.bp.blogspot.com/_8YjxI62OxxY/SnoMoUBz9tI/AAAAAAAABR4/OU929HzfrxA/s1600-h/2009-08-05_1548_SPX_Only_three_waves.png

    The next upside pattern will be very important to understand the big picture.
    Regards from Portugal :).

    ReplyDelete
  2. Sorry, I probably should have pointed out that we differ on the Wave 4 of P1 idea. I just wanted to be sure you got credit for the ED count.

    ReplyDelete

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