JULY COMMENTS
Scroll down to view each Comment one by one or click on the
individual Comment number you wish to view.
Comment numbers for 20060727 258 259 260
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)
>> >> << <<
1. We always want to be aware of those projected turning points on page 368 of "The 2006 $upertrader's Almanac - 1st Half Edition".
5. Click here to access our new charting service!
CURRENT COMMENTS
Once a government is committed to the principle of UPDATED 20060727
COMMENT #258
CHART #519
(Posted late afternoon Thursday, 20060727)
1. CHART #519 updates daily prices through yesterday's close.
2. Only minor changes have been made in the CHART.
3. The bullish outcome remains the favored scenario.
4. The bearish and alternative outcome remains as presented in the pink box.
5. Price broke the thin horizontal pink trendline shown to the right of price yesterday.
6. Today, price took out the blue Wave 2 low in yesterday's CHART.
7. As a result, this reassessment is presented.
8. As can be seen, the changes are minor.
9. In essence, this is the third and last scenario discussed yesterday.
10. From the blue Wave 1 high on 719, the market is seen as having declined for 2 trading days to the blue Wave a low (a reassessment) and to then have rallied for 2 trading days to the blue Wave b high.
11. Today's intraday low appears to have formed a blue Wave c low and to have completed a blue a-b-c corrective decline to a blue Wave 2 low (see pages 283-92 of "The $upertrader's Reference Manual").
12. Hence, the assumption is that the black Wave 1-2 sequence of 8 - 24 = 32 calendar days remains as previously presented and that from the black Wave 2 low, the blue Wave 1-2 sequence of 12 - 8 = 20 calendar days is now complete.
13. The thick pink horizontal line drawn off the July low has held (at least, for now).
14. A green up trendline off the June and July lows has been added as has the red down channel trendlines of the blue Wave 2 corrective decline.
15. The .786 percent retracement level is marked in the CHART by the green horizontal dotted line.
16. The light blue MIC (Monthly Inversion Cycle Index) projected turn has not been moved and likely will not be so long as that pink thick horizontal line marking the July low holds.
17. Today's intraday low marking the blue Wave 2 low should not be broken for this scenario to hold.
18. We'll update tonight and show how today's action has fit with the above CHART.
UPDATED 20060727
COMMENT #259
CHART #520
(Posted late afternoon Thursday, 20060727)
1. CHART #520 updates hours prices for the following CHART of a few days ago:
2. We can see that price returned to the upper red up channel trendline today and to the blue center ascending pitchfork line.
3. Just as at the black Wave 3 high, price can again be seen as diverging with such momentum oscillators as RSI and Slow Stochastics.
4. The new high has required reassessment and that the blue Wave 2 high in the prior CHART be moved forward as shown.
5. The expectation remains that an important high is being set.
UPDATED 20060727
COMMENT #260
CHART #521
(Post-close COMMENTThursday, 20060727)
1. CHART #521 shows daily prices for the continuous spot futures contract with prices through yesterday's close.
2. Although we can see that price is being drawn up into the boxes in the upper right corner, we can also see that the decline / advance, through today, has been 34 - 21 = 55 trading days (FIBONACCI #s=21, 34 & 55).
3. We thus know that the market is in perfect PHI proportions.
4. Today's action has taken price up into the two upper red channel trendlines shown.
5. We can see how price has declined from the boxes in the upper left corner of the CHART to the box at the bottom in the middle and is now moving up into those in the upper right corner.
6. The question is whether the market will have the energy to continue up into the boxes in the upper right corner.
7. The expectation from the rest of the complex and from recent discussion is that an early peak should be expected.
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.
4. NOTICE of refund and cancellation polices may be accessed here.
silencing the voice of opposition,
it has only one way to go,
and that is down the path of increasingly repressive measures,
until it becomes a source of terror to all its citizens
and creates a country where everyone lives in fear.
--Harry S. Truman
