Davtrader's Account Talk

[davtrader]

I trade my account base on Technical Analysis, to include short term Elliott Wave Theory.

[pyriel]

I trade my account base on Technical Analysis, to include short term Elliott Wave Theory.
Dav, it looks like one of the moderators already fixed it. Good luck and I would like to hear more of your technical analysis...P

[davtrader]

Chart is SPX and the indicator above it is
The number of SP500 stocks above their 50 day moving average. looks like we may bounce but might be more down after bounce.

[davtrader]

The EWavers are divided about the decline being a 3 or 5.
Right now I can argue bullish counts and bearish counts. I will look to go to G on the coming bounce, where I can be more objective.

[davtrader]

Finally....It's a Five
My guess is overnight low or intraday low tomorrow

1 looks like wave v of 5 headed towards 1246-1247
2 Trendline back kiss
4 Fibonacci clusters around 1247 area
5 1247ish is 50% retrace of the rally started in Oct

On the bounce up I will watch
SPX 1277.16/1287.32/1296.41
maybe 1311.17

[davtrader]

IFT 100% G Fund 6-5-06. After totally blowing the Ending Diagonal trade, I was watching the 1292 area for information. Looking for weakness since we could'nt break through. Risk vs Reward here.

[davtrader]

Started move into C/S/I on Thursday.
By Monday (7-17-06) I was C60 S20 I20.
Bailed Today(7-19-06)
Although might go higher, was looking for a retrace before finishing the downward move.
Swore I'd sell on anything over 1250 and kept my word.