Tuesday update

SHORT TERM: ATH open then consolidation, DOW +61

Overnight the Asian markets gained 0.7%. Europe opened higher and gained 0.3%. US index futures were higher overnight, and the market opened at SPX 2493 an ATH. The market had closed at SPX 2488 yesterday. In the opening moments the SPX rose to 2496 then began to pullback. By 11am the SPX had reached 2490. It then rallied to SPX 2497 in the closing minutes only to close at 2496.

For the day the SPX/DOW gained 0.30%, and the NDX/NAZ gained 0.30%. Bonds lost 12 ticks, Crude rose 20 cents, Gold added $4, and the USD was higher. Medium term support remains at the 2479 and 2456 pivots with resistance at the 2525 pivot. Tomorrow: the PPI at 8:30, then the Budget deficit at 2pm.

The market opened at an ATH, then made a new ATH before spending the rest of the day consolidating. As we have been noting, during the inflection point period, either a breakout or breakdown would eliminate one of the two short term counts. Today the SPX daily chart was updated to reflect the count on the SPX hourly chart. Currently we have the SPX in Minute iii of Minor 5. With Micro waves (orange) 1 and 2 completed and Micro 3 underway. Micro 3 appears to be subdividing as follows: (1) 2455, (2) 2428, (3) 2480-2447-2497 so far. Lots of counts floating around but this looks the most probable. Short term support is at the 2479 and 2456 pivots, with resistance at the 2525 pivots. Short term momentum remains overbought. Best to your trading!

MEDIUM TERM: uptrend

LONG TERM: uptrend

CHARTS: https://stockcharts.com/public/1269446/tenpp

About tony caldaro

Investor
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513 Responses to Tuesday update

  1. micky says:

    I have just over 2500, 2540 and 2590 areas as ST resistance. So if we get to the 2540 area I will lighten up again,

  2. kvilia says:

    Glad u r OK Tony.

  3. J.Wenger says:

    Glad you’re okay Tony

  4. Someone posted that Phil1247 took up half the site “yesterday” explaining DH method to OEW readers. A lot of readers accepted that as a fact and gave their reactions to it, including me. But I have since checked the Comments on the previous days going back thru Tues Sept 5, and I haven’t found anything remotely like that. Some I am going to have to consider that comment “fake news”.

  5. vivelaamo says:

    Glad you’re well Tony and welcome back. It all got abit emotional on here and all hell broke lose lol.

    Have a good weekend.

  6. amittsite says:

    TONY C…Welcome back..no worries..we can wait for your updates..responses..family and self comes first..Take Care ..and good luck.

  7. Kazim K. says:

    Hi Tony

    welcome back 🙂

  8. jobjas says:

    BTC correction may not be over ….

  9. Marcos Melo says:

    Welcome back, Tony.
    We were worried about you.
    Hopefuly all is well, I hope.
    Cheers,

  10. scottycj1 says:

    Tone,

    Sorry too late….had the SWAT team sent out…..figured you had been captured by Al Kyda, Isis or Kim Jong Un as part of their “Missile Option Trading Team” (against your will of course). Glad you escaped…….Tell the SWAT Team you have CODE OEW…………… 🙂

  11. fbender7 says:

    In response to Mary’s post regarding Bitcoin and Jamie Dimon:

    Perhaps Jamie Dimon is trying to discredit Bitcoin because his company, JP Morgan Chase, is actively backing an alternative cryptocurrency called Ether (Etherium). They are working to create “a more flexible and developer-friendly alternative to Bitcoin.”

    One way or another, sooner or later, cryptocurrencies are the future. I think Jamie Dimon just wants to get in on the ground floor of his own cryptocurrency.

    See article:

    http://amp.timeinc.net/fortune/2017/02/28/ethereum-jpmorgan-microsoft-alliance/?source=dam

  12. Mary773 says:

    I am assuming that Tony has experienced a painful personal loss. Out of respect for him and appreciation that he has left us on the honor system, perhaps any bickering could be deferred. This is not meant to disparage anyone. I just think he will be pleased when he returns if the discourse has been civil.

  13. tony caldaro says:

    Okay I’m back!
    I live with family, please do not phone nor call the police.
    Understand your concern, but don’t get carried away.
    Spent a couple of days in the hospital, followed the markets, obviously didn’t miss much: a 9 point range over three days.
    Will do the w/e update, but probably will be done by late morning.
    Enjoy the weekend.
    Making arrangements in case this happens again.
    thanks for your concern
    cheers!

  14. asaraniti says:

    Update on /ES futures/SPX for Monday open…

    The/ES futures did not trade to it’s daily profit target at ES 2499.61 and although phil1247 was 100% correct that the extension long (for simplicity, 15 minute trend as opposed to a daily trend) did brake, the computer algorithm traded today, as though the brake never happened. Whenever a 61.8% retrace brakes on a news flash, in this case NK firing another missile, trading becomes sloppy and thus reactionary trading as opposed to technical trading. The computer algorithm that David Halsey uses simply “ignores” those trades as though it never traded. Therefore the lines in the sand remain unchanged. The profit target (green line) and the 50% (yellow) and the 61.8% (red) will remain until either the profit target has traded or the 61.8% retracement has been breached….no more no less. Once either level trades the algorithm is automatically redrawn with updated profit targets, and retracements. There is no guess work, it’s math. I should note that is the science of trading this algorithm, the art is knowing which anchors to use.

    Bottom line…the /ES futures are trading in a bullish trend both on the 15 minute trend as well as the daily trend. The reason why I mention this is that when the trend brakes it could be the end of a micro or possibly minute wave iii. Brake the daily trend and at a minimum, minute wave iii is probably complete (overly simplistic).

    Chart….

    • fionamargaret says:

      This is terrific Asaraniti…and I am very fond of overly simplistic..x

        • asaraniti says:

          kvilia..yes /ES traded to 2500…target hit. Not speaking for DH, I assume he will update the chart on Monday morning…..

          As long as /ES 2500 was the high, and the futures sell off a bit Sunday night into the European open, then the /ES is trading in traditions. That means, DH will have a low draw/anchor probably at 2487, a high anchor at at /ES 2500. a 50% pullback or 6.5 points,would be expected (2500 – 2487 =13 points /2 = 6.5). I would expect a 6.5 point pullback (50%) and then reassess from there.

          If the /ES futures trade to 2501(+) on Sunday night/European open then /ES is trading in extensions and the anchors would be from the technical high at 2497 to the overnight high. The 50% retrace would be tested and then if defended rallying to new a new and higher profit target. If /ES trades below the 61.8% retrace of that move, then I expect a larger pullback on Monday morning. I can’t tell you the exact levels because we have to wait until the European open to see the levels the ES has traded.

          This analysis is based upon my earlier chart above ……

          I will update this post on Monday morning

          • vivelaamo says:

            Asaranti brilliantly explained. Thanks for that. I subscribed for a month and learnt the method but with work commitments I find it hard to trade as it’s very much for day traders. However the larger daily traditional are very useful to keep an eye on for longer term trades. The method keeps you on the right side of trends but still takes a lot of discipline.

            Thanks again and please keep posting.

            • vivelaamo…If time is an issue for you, try a paper trade. Wait till the next major trend to trade and place a stop above/below the 61.8% retrace and adjust the stop as the extensions trade or when you have the time to reassess (swing trade if you will).. If you get stopped out at a profit, fine. Any profitable trade is a good trade in my book.

          • pooch77 says:

            Thankyou

          • Sethu N says:

            @asaraniti
            It is too good to be true. I wonder how one can just apply the 50% rule to all the futures including ES. Have you back tested it. What happens in a sideways market. Since everybody knows this, what is the edge in the market.

    • pooch77 says:

      Could you tell me who D.H. is as this is the 1st day i heard of him

      • asaraniti says:

        pooch77 DH is David Halsey he runs a site called eminiaddict.com. He has many trading videos on his site which are excellent to review. The main feature of his site is a live analysis of the market. Mainly the /ES, YM, NQ, TF, CL and GC futures, His morning and evening updates are a must to view. I don’t trade when he is out, it’s that simple.

        His site is 1 penny for the first 2 weeks and 29.99 a month, if you wish to continue. I would highly recommend when you have 2 weeks that you can devote some time to watch his updates and see live presentations of the market to take advantage of his 2 week trial offer.

  15. purplember says:

    Asaraniti, what are your thoughts of DH method since you used it for years ?

  16. We reached SPX 2498.50 by simply “reusing” the 52 pt wave that took us from 2428 to 2480; this time we started at 2446.50 and concluded at 2498.50. Since then, we’ve dug up a few points to reach and close at a new ATH……….2500.25. The next wave that may be recycled will take us to 2502.50; after that we either fade (not likely) or move towards 2525 where the whole world await us. Easily one of the more widely discussed index pivots.

  17. My 2 cents. Appears bear case is an ending diagonal with a pull back Monday. To 2485 ish then up to 2510 to finish. Assume fed day will cause the fall.

    If no pull back Monday Tony’s count is spot on.2580 target

    Have a great weekend all
    Tony hope things are ok.

  18. captbara says:

    The only way we get ED is if Kimmy nukes.

    Maybe Tony leaving the blog is like when Neo gave himself up to the Matrix. He did it to save everyone and the entire market.

  19. lcd00 says:

    The blog is careening towards Lord of the Flies redux; full on tribal by end of the weekend it appears….

  20. phil1247 says:

    ok folks…………

    the boys are messing with you again
    they took it to 2498 es …one point shy of the 2499 target
    so was it hit or not ?
    people calling for crashes from here dont understand how the market works
    there is not going to be a crash from all time highs
    heck………..there is not even a 15 minute short from highs
    a melt up is a higher probability
    or a grind up that crushes all shorts over time

    • I had a sell order sitting at ES 2501.75(near an upper trend line I have at 2503 or so) thinking it might hit before the 4pm close. Got close but no cigar. I was gonna play a short and see what the weekend brought. Oh well, maybe better it didn’t get filled since they gapped the thing up last Sunday evening 🙂

  21. JK1987 says:

    feel like this is phil1247’s blog

    today
    phil: 17 posts
    Tony: 0

    • pooch77 says:

      Someone has to pickup the slack

      • fionamargaret says:

        Pooch, Asaraniti has followed DH for years, and can bottomline his ideas in one sentence…no drama. If folks want DH’s ideas, let’s have him make the calls and Tony has his blog back. Phil can have his own blog.

        • pooch77 says:

          I was being sarcastic

        • scottycj1 says:

          Fiona
          You have a lot of nerve talking that way…..You clog up the blog with everything YOU think should be here…other analysts work and pages and pages of music you think everyone should hear.
          Why don’t you get YOUR own Blog ?

          • fionamargaret says:

            What are you talking about Scotty.
            I leave RJ, and Kimble plus 1 piece of music each day…am not on the blog much..you always seem to be unhappy, with most everybody. If there is anything I can do to help, I have a few resources at my disposal…x

          • SPYtrader says:

            scotty, classical music allows a person to be “pure as the wind driven snow”
            I probably need those resources too. lol

    • JK1987 says:

      and
      phil posts
      yesterday: half of the blog
      the day before: 18 posts

      phil taking over Q&A from people throughout the day, everyday
      nobody ask Tony Q anymore for many days since last week

    • kvilia says:

      Outta control – used to be good.

  22. CampFreddie says:

    * In case you missed it, there is some good info below from Phil, Aam and Darkness.
    (Thanks to all 3 for your contributions)

    • phil1247 says:

      Freddie
      nice of you to say ………. thanks

    • fionamargaret says:

      Yes, terrific input to my question…also from Asaraniti (who has followed DH for years).
      Now, I ask the question , if the bottomline is 2487 has to break to go down, and above that number the market goes up (succinctly put by Asaraniti), why cannot Phil say that in one posting, and give Tony his blog back…or better yet let Asaraniti give the call. He has always presented well, and certainly is no attention seeker.

  23. Jack Sparrow says:

    completing the ed almost there…meaning monday we go down

  24. vivelaamo says:

    Haven’t seen Newbie for a while so here’s s tribute. Also lets people decide who to listen to. Good weekend all. All the best to Tony. Happy to hear he is ok.

    NEWBIE on August 7, 2017 at 11:19 am
    They are gonna smash this thing into the ground when cash market is closed. My best guess is N Korea will be blamed as to the reason. I can see it already, Everything was going great until N. Korea…….

    NEWBIE on August 15, 2017 at 5:34 am
    C wave or wave 3 down gonna catch the majority with their pants down.

    NEWBIE on August 16, 2017 at 12:14 pm
    Bulls bend over time!!

    NEWBIE on August 16, 2017 at 1:02 pm
    Straight down from here, we are gonna breach 2400 in quick fashion.

    NEWBIE says:
    August 23, 2017 at 4:20 pm
    I was one day off, no way to be exact but I believe the down is coming tomorrow.

    NEWBIE says:
    August 25, 2017 at 7:20 am
    Gap and crap on deck, Janets back against the wall.

    NEWBIE on August 28, 2017 at 11:05 pm
    Shit could really hit the fan here, they been waiting on a catalyst to crash or correct this market- here it is.

    NEWBIE says:
    August 29, 2017 at 8:18 pm
    Everybody long again looking for 2462 or higher = down we go below 2400.

    NEWBIE says:
    August 30, 2017 at 1:36 pm
    Once every smo is convinced 2467 is on deck, we will get power move down below 2400. By the looks of it, wheels will be coming of momentarily as mr market has reversed sentiment and has the bag holders holding.

    NEWBIE says:
    August 31, 2017 at 9:33 am
    Partys OVER, here comes the pain (wave 3 down or wave c)- unexpectedly into the holiday weekend!

    August 31, 2017 at 9:56 am
    2400 is next… topping is a process.

    NEWBIE says:
    August 31, 2017 at 2:29 pm
    They did smash it down and did use N Korea as an excuse my timing was off but now they really gonna wack it down 2350 in the snap of a finger.

    NEWBIE says:
    September 1, 2017 at 6:50 am
    Bad data in an hour or Kim Jong over the weekend is how this is gonna crater into the ground.

    NEWBIE says:
    September 1, 2017 at 9:36 am
    This is a beautiful B wave that is ending right here and now before a wave C down that is gonna rock the complacent

    NEWBIE says:
    September 6, 2017 at 6:09 pm
    Futures!! We are starting a c wave down to 2300, that kicks off tommorow. If your long you in trouble squirrelly.

    AND for balance somebody that is always given a hard time:

    pulm555 says:
    August 30, 2017 at 5:52 pm
    SPX target
2525 SEPT 2017
2700 Jan 2018
3000 July 2018
    Smartz!

    • CampFreddie says:

      Maybe a bit harsh on Newb, and we haven’t seen pulm555’s targets hit yet either.

    • Mary773 says:

      SPX has ten consecutive months of higher lows. Traders might want to refrain from panicking at least until that pattern changes.

      http://stockcharts.com/h-sc/ui?s=%24SPX&p=M&yr=3&mn=6&dy=0&id=p32198791219&listNum=36&a=544751859

      Also, closing at new all-time highs is rarely a sign that the market is free falling.

    • JK1987 says:

      vive, i am still seeing and re-iterate spx crash into the target date i posted a few times. you can mark my words.
      you can trade the 5-10-20 points here and there.
      my money is for:
      spx down 250~300 points to start with.
      yes, that’s just to start with.
      count on it.

      cheers!

    • travis01 says:

      I’m sure he thinks it’s all funny too. Nothing like a complete stranger reposting every mistake he makes and tracking every trade he is believed to have made. Seems pretty much like a kid bullying another looking for adoration from a group. And to be straight, although the guy tends to be way too early on down runs I value his take over wafflers.

      • vivelaamo says:

        Was wondering how long it would take for Newbies bf to speak up.

        • travis01 says:

          You are just an incessant schmuck and keyboard warrior. Never met Newbie but I’d love to run across you someday. You need some manners.

          • vivelaamo says:

            I would love to run across you too. Ever in the UK please let me know and we see who is a keyboard warrior. When it gets personal I always post an email address on here to take it off Tony’s blog. Keyboard warriors never email. Shamli_@hotmail.com

            • travis01 says:

              That’s because you’ll just sell the email address to your grifter cousins to try to scam old people. Same here; come to the US. I’ll literally fly anywhere you choose.

              • vivelaamo says:

                Grifter cousin!! That actually made me laugh. i’m coming to Canada next year. Going to come pay me a visit big man?

              • travis01 says:

                Do you have immigration status? Didn’t you just call my line trying to sign me up for a credit card and ask for my social? Or was it the “your uncle left you $9.7m and we can split it” scam? Or the call center scam? Don’t let that mouth write a check you can’t cash lil guy.

              • vivelaamo says:

                What the hell are you taking about my Aryan Brother? At least you are showing your true colours now. Can’t beat a bit of casual racism over the Internet. Travis! Perfect peckerwood name. 😂

              • travis01 says:

                Ok ok I see how it sounds…not intended. I’m big enough to admit that. You’ve called out like 4 guys to come meet you in England, and I think you’re a fraud. But other than that I don’t know what color you are and English isn’t a race. Let’s let it be. Btw, I run one of the largest minority youth charities in this part of the country. Peace out

      • vivelaamo says:

        Travis for the record if he traded these calls i wouldn’t ridicule them. I don’t get pleasure from people losing money.

  25. kvilia says:

    http://www.macrotrends.net/1335/dollar-vs-gold-comparison-last-ten-years
    Phil – huh?
    “kvilia
    dollar fell from 160 to 80
    gold went nowhere
    no correlation”

  26. vivelaamo says:

    Everyone calls top and shorts. We squeeze and squeeze. Then we pull back.

    Rinse and repeat.

    Nothing has chanced before about 8 years so why are we suprised.

    • phil1247 says:

      vive …

      some people think they are smarter than the market
      they will remain stubbornly short until they are wiped out

      • vivelaamo says:

        I think it’s because the average Joe that knows nothing about the market and just buys and holds makes lots of money. Those shorting tops think they are smarter than the average Joe. A bit of knowledge is dangerous.

      • Jack Sparrow says:

        sign of a mid term top..when the other side ie yours also get so complacent just like bears have been at every century mark -we have abt 20/40 points left to uspisde before a sizable correction 200 plus points

        • vivelaamo says:

          200 points is peanuts from 2525 considering the rally we have had.

          • pooch77 says:

            It’s always another 20 or 40 points and then when we get there weeks later it’s same old same old another 20 or 40 points,by the time it turns down you 100-150 points in the hole,so a 200 point downturn is nothing

      • johnnymagicmoney says:

        Phil – the average Joe is 100% in stocks in their 401k. The average Joe is now buying Bitcoin, Amazon, Facebook, and Apple. Thee average Joe is venturing into penny stocks hoping to quadruple their money in short order opening Etrade accounts. Why people on here think this blog represents the investment community in any way shape or form mystifies me. Not saying you are saying this blog represents the average Joe but surely don’t know why anyone thinks the market is bearish.

    • mcgcapital says:

      Never understand why people post stuff like this is the top tick of the whole bull market. The ironic thing is, the only time you can make money shorting this is by selling new highs… if you wait for a dip for confirmation it’s going down then you tend to short the bottom. It definitely feels like it’s losing momentum vs the start of the year but hard to say when the vol is going to pick up. Waiting for that elusive 5% dip to signal things might be changing. FTSE made a good start this week even if it was all currency

  27. cwallace90 says:

    Hi All, Just want to let everyone know I got in touch with Tony’s family and he is OK. I think it would be appropriate now to give Tony some space and let him come back when he is ready.

    Thanks for the concern.

    Chris

  28. spcnyc says:

    Anyone like EDC ff retracement- to 112.5 – 113.5?

  29. Jack Sparrow says:

    i would have thought with more than 1000 members visiting this site, someone may have direct access to TC to check with him about his well being,

    • lunker1 says:

      Someone in the private members side probably does but there again just because someone knows the status and maybe isn’t there a place to post it on here for the public

      • lunker1 says:

        *was supposed to say… it isn’t their place to post his personal status here. Something will come to light when it is the appropriate time

    • Jack Sparrow says:

      what is your system…the bars are for?

      • fionamargaret says:

        Jack, is this a double top, or the start to wave 4…?

        • Jack Sparrow says:

          in sp its forming an ending diagonal on small scale one slight high either monday or later friday afternoon..then 20/30 points drop….then we have to reevaluate if this is all a part of big ending diagonal which started from 2410 (today will be the third wave of ed…4th takes it down by 20 points 5th takes it new high around 2510-2520….

          • aahmichael says:

            FWIW, Tom Demark was interviewed on Bloomberg TV this morning, and he’s calling for a major top between now and Tuesday. His target this year has been DOW 22280. He has some unique methods in his analysis, one of which is finding recurring chart patterns. He said that according to his methodology, this top is the inverse of the October 2011 bottom.

            • phil1247 says:

              grasping at straws now ?

              just another buy opportunity on the way to 3000 spx

              all tops are illusions

              • aahmichael says:

                It’s not my call. I’m sharing what Tom Demark said. If you have an issue with his call, take it up with him.

                Nevertheless, is your call for SPX 3000 the same as your Dollar calls of 59 and 106, and your “short of a lifetime” call in bonds for the 1st three months of this year, and your call for 14 on oil for the last 18 months? If so, at what price would SPX have to trade for your 3000 call to become invalid? Where’s your stop at on this call?

              • phil1247 says:

                there is no chance of any decline until 2487 es fails
                until that happens we continue up
                and squeeze shorts till they scream

            • AA-
              so strange tom was thinking like me ( year 2011 ) ( we only went 7% instead of the 11%)
              but now we are at the top off the rally . I am just an amateur for the last 32yrs , not as much experience as some of the players here. Wonder what happens next ?

              Darkness (@SirDarkness) says:
              July 19, 2017 at 1:48 pm
              chart explains itself – wkly rsi fails – chop 2weeks iwm fills gap 127.64
              same (11%) corrections as the other 2 vert yellow lines.
              ps- none would have called for a correction from there ( yellow vert ) either.
              Good news
              After sell off we rally and fail at these levels 2478-2520
              and get smashed

              https://www.tradingview.com/x/Ajl8EiHy/

              • kvilia says:

                Sir,
                Expect this tough crowd to throw bananas and other look alike objects at you at 2521.
                Don’t forget to duck and thank me later.
                Respectfully,
                Sir kv

              • aahmichael says:

                What’s interesting is that Demark isn’t saying that this high is the same as the May 11 high. He’s saying that it’s the inverse of the Oct 11 low.

            • gorr dfff says:

              i think the major top happens when they come out tax reform info which is due around 24 sept… unless NK pauches a nuke before then

            • Jack Sparrow says:

              if its a expanded diagonal from 2415ish then yes the move can on monday…not sure if its expanded or normal (in which case we are completing the third of ed)

            • scottycj1 says:

              22280……19 points away…..think we move thru that quickly……

            • asaraniti says:

              To aahmichael and phil1247

              From an outsiders perspective you are both wrong and correct, I just wish we could respect all opinions and all contributions. phil1247, it’s not so much what you are saying, it’s how you say it. aamichael was correct in that he was only sharing with us, Tom Demark’s call, that he had heard on Bloomberg. I appreciate aamichael’s post because Tom has had, many amazing calls, whether he is right or wrong on this call is immaterial and we’ll see on Tuesday……but I thank aamicheal for bring Tom’s call to our attention. I also want to thank you for your outstanding views /posts/ on the market.

              Quoting yourself, phil1234, your trading analysis is nothing more than a refinement of David Halsey’s, system. I’ve been a subscriber to David Halsey’s site for many years. I agree 100% with your current call, that the trend is bullish until /ES 2487 trades (actually 2487.44…a full tick break would be 2487 to be more precise).

              aamichael, think of phil1247’s calls are a snap shot in time. The way the “system/algorithm” works, should an asset class for example, trade above it’s profit target or brake a daily trend, the analysis is updated instantaneously. phil1247 didn’t change his mind he is simply posting was the charts/algorithm are telling him. I appreciate phil1247 calls especially when it reinforces DH’s call because it increases the probability of a profitable trade for me.

              I respect both of you and your valuable posts and I am not defending anyone…”if the shoe fits wear it, if not, throw it away.”

              • fionamargaret says:

                Thank you everybody….now another question, if the bottomline is 2487 breaking to go down, and above up, why cannot Phil say that in one posting.
                Asaraniti, maybe you should translate DH succinctly and then we can all make money, and Tony can have his blog back….x

              • aahmichael says:

                Thanks for your comments, asaraniti.

              • phil1247 says:

                you have explained it perfectly asa

                a snapshot in time………as time changes the snapshot changes

              • aahmichael says:

                Does “the snap shot in time” of the “system/algorithm” actually mean that an uptrending market can reasonably be expected to go to infinity, unless and until the 15 min support is broken, and a downtrending market can reasonably be expected to go to zero, unless and until the 15 min resistance is broken? Personally, I don’t consider calls like that to be reasonable at all.

              • phil1247 says:

                so yes …………….AH michael
                es can go to infinity if ext short is never violated as new extensions keep being created

                look at euro the last six months … those were daily extensions
                and they still continue……..
                ..this could happen in es .now . ie melt up since we just went thru 2499
                now we are in new extensions………… towards infinity

            • JK1987 says:

              Tom Demark only saw the inverse of the October 2011 bottom.
              i saw the 2011 pattern developing long ago & showed it to Tony.
              i am seeing much more than 2011. that’s just to start with.

            • stcoleridge says:

              That was a significant bottom, I remember it well. Thanks for the info.

  30. Sethu N says:

    This is posted phil and micheal and welcome their feedback

  31. Sethu N says:

    The issue with DH system is how can one definitely say this is the low. In determining retracement, one has a visibility for the high but not the low . It is like catching a falling knife and hence stopped out often. One has to establish the formation of low/high before attempting a long/short with a sl. But see my system below I dont have any issues and I am doing well with this system.

  32. phil1247 says:

    Tony

    praying that all is well with you and family
    please let us know when possible

  33. reddragonleo says:

    I too wish Tony well, wherever he is at…

  34. Who would think,the Nikkei,with a missile penetrating Japanese airspace,would be UP?These guys are GOOD.I’m out of here.Drop us a line Mr C.

  35. H D says:

    Anybody notice the similarity Gold & BTC?

    • Mary773 says:

      Bitcoin retested the June high this morning. Depending upon the count, the September 1 high was a 5 (in which case Bitcoin should now bounce/consolidate and then get crushed) or a 3 (in which case there should soon be another vertical advance). Key inflection point.

      • H D says:

        Hi Mary, Yes. Good eyes. I first mentioned private currency to Tony back in early April when he did a report on the USD. Nobody liked BTC then and a majority hated it all year. Nobody liked the gold rally this year either. Fractals

        • Mary773 says:

          Wall Street recently launched a public relations attack on Bitcoin. Jamie Dimon, among many others, aggressively sought to discredit cryptocurrencies. Being of a suspicious mindset, I suspect they were accumulating at the lower prices they helped create because I doubt that these barracudas were alerting the public from altruistic motives.

          • aahmichael says:

            Dimon’s attack is not new. He started warning about it in early 2014 when it was at $800. Then again in 2015 and again 2016. It was $400 both of those times.

  36. H D says:

    Godspeed Tony.

    Maybe he’s just at DH’s talking about OEW since everyone here is talking about fib ext’s?

  37. fionamargaret says:

    UWT, UGAZ,

  38. If you ever feel frustrated in your trading…and subsequently wonder how so many other people can be so lousy at their jobs and still get paid…

    http://www.marketwatch.com/story/why-way-fewer-actively-managed-funds-beat-the-sp-than-we-thought-2017-04-24

    https://us.spindices.com/documents/spiva/spiva-us-year-end-2016.pdf

    “Over the last 15 years, 92.2% of large-cap funds lagged a simple S&P 500 index fund. The percentages of mid-cap and small-cap funds lagging their benchmarks were even higher: 95.4% and 93.2%, respectively.”

    “….according to S&P Global, only 34.11% of large-cap mutual funds that existed 15 years ago are around today. Needless to say, the 65.89% of funds that didn’t survive were mediocre performers when they were merged or liquidated out of existence. So a simple ranking of 15-year returns, which by definition focuses only on the 34.11% of funds that survived, will paint a far too rosy a picture.”

  39. I wonder how gold can be down with the DXY down .31%.Must be massive liquidation by the bankers.Gold SHOULD be up $10(at least normally).

  40. mjtplayer says:

    Thanks Phil – those BB’s are tight on your 4hr chart

    • phil1247 says:

      yes
      also
      euro looks like wave 4….
      bear below 1.1995
      if that is traded above… looks like 1.22 target will be hit
      gl

  41. phil1247 says:

    silver and gold ready to collapse

  42. phil1247 says:

    ES
    extension long nicked at 2487………………….
    red flags waving for bulls

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