MAY COMMENTS
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Comment numbers for 20060504 154
GENERAL COMMENTS
"It would indeed be ironic if,
in the name of national defense,
we would sanction the subversion of one of the liberties . . .
which makes the defense of the Nation worthwhile."
- United States v. Robel, 389 US 258, 264 (1967)
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1. We always want to be aware of those projected turning points on page 368 of "The 2006 $upertrader's Almanac - 1st Half Edition".
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CURRENT COMMENTS
Worry is the darkroom in which negatives can develop. UPDATED 20060504
COMMENT #154
CHART #307
(Post close COMMENT)
1. Lately we've been discussing how the following market had a chance to extend the bottoming process believed to be occurring:
2. Should the extension occur, the expectation was that it would like also be seen in other markets whose trends are presently extended.
3. In today's CHART #307 of hourly prices, we can see how the movement has been extended a bit.
4. This extension has required recalculation of the relationships shown in the CHART.
5. The reassessment is presented in the CHART.
6. We can see that unique PHI-related relationships are everywhere seen in both price and time.
7. The color shadowing further highlights some of these relationships.
8. For example, the yellow highlighting shows how the decline to the blue Wave 3 lasted 89 hours and was followed by 141 more to the blue Wave 5, 230 total (FIBONACCI #s=89, 141 & 230).
9. The grey shadowing in the three boxes shows the number of ticks in the blue Wave 1, 3 & 5 declines.
10. The price relationships of these downlegs are shown in the grey highlighted box with the large blue 5 to the left.
11. The light blue shadowing does the same for the black 1, 3 & 5 downlegs.
12. These relationships are shown in the red box.
13. Some of the alternative in the prior CHART have been removed.
14. The interpretation shown is the 1st alternative from the prior CHART.
15. At the bottom of the CHART, we can see how it is possible that the market has only experienced the black Wave 3 low shown.
16. If this is the case, the market will experience a minor, though tradable (on a short term basis) rally and, later, a bit more low.
17. Other markets would also be expected to continue current trends.
18. At the top of the CHART, we can see that today's low has occurred at on time at the periodicity across the lows marked by the green lines.
19. Rather than review the relationships at this time, they are presented on the CHART and are available for even the most dedicated analyst.
20. The descending diagonal triangle shown suggests bottoming action.
21. The favored interpretation is that the movement, though extended, is complete.
22. Hence, the black and blue "5"s at the bottom of the CHART.
2. We always want to be aware of those "Inversion Cycle Indexes" in the weekly pages of the April through September edition of "The 2006 $upertrader's Book of Linear Time Cycles" which is available in an easy-to-use electronic format. A sample of the format for the charting file may be seen in the NOTICE posted here. Ordering information here!
3. The initial issue of the free "Trading on the Edge" E-Zine was released 20001021. Archived copies are available here. Subscription information here.
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