Re: FogSailing's Account Talk
Hi Fab and TS:
I've been baffled at the amount of excitement by both the bulls and the bears. TS, we are probably using different counts (big surprise huh) ....but by my count, we just completed a flat ABC from the 1/20 low. This is one of the most basic of all EW patterns, and it’s baffled me how excited folks here got over the last 5 trading days. I label this the completion of a B wave, and if correct, then the next wave down will take out the 2/11 low and beyond.
As I'm posting this the VIX is rising from a low of 19.02 this am, SPX has been trading sideways all day since the gap up this morning, and we haven't breached 1947. That could all be consolidation and there is another leg up...but if those things hold through the close of todays session, I think we start the C wave pullback real soon - maybe tomorrow. I have that wave tracing down to 1780.
So many things on the radar can make this go in crazy directions: The Fed, The EU CB, Currency, China, Oil, N. Korea?) The ZBT is quite close to .615. Another exciting day tomorrow...sort of a new inflection point...which way will she go?
Enjoy that bear cave TS! I hope you're enjoying a nice cold beer and some tasty snacks as we lie in hibernation waiting for the next opportunity!
With respect to NARFE: Clearly dealing with a paper pusher with no understanding of the issues. Will resubmit a new email...a bit more pointed this time and look forward to the next response.
FS
FogSailing
Try to learn something about everything and everything about something.
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