http://spiralcalendar.com/2008/11/one-day-wonder/ Christopher Carolan on Financial Markets & Lunar Cycles Fri, 18 May 2012 09:30:27 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://spiralcalendar.com/2008/11/one-day-wonder/comment-page-1/#comment-262 AC Wed, 19 Nov 2008 23:00:48 +0000 http://spiralcalendar.com/?p=1065#comment-262 For the SPX diagonal to look "right" in my opinion, I think yesterdays rally should really have taken out the 917 high for about 930 before heading down. The fact that the rally failed, makes me more concerned about the DIA which looks more like a continuation (4th wave) triangle in a contracting 78-99 range before lower. This would have finished on 13th at 89.49 + put us now in a 5th wave off August highs. The final low would be closer to 65 than current levels. I also find there's no such thing as a quadruptle bottom. So most likely with DIA now back to 80 for a 4th test, it should give way for a good decline ... time will tell ... guess the trick would be only to buy if a post-diagonal rally is well under way rather than buying a falling market with risk of acceleration For the SPX diagonal to look “right” in my opinion, I think yesterdays rally should really have taken out the 917 high for about 930 before heading down. The fact that the rally failed, makes me more concerned about the DIA which looks more like a continuation (4th wave) triangle in a contracting 78-99 range before lower. This would have finished on 13th at 89.49 + put us now in a 5th wave off August highs. The final low would be closer to 65 than current levels. I also find there’s no such thing as a quadruptle bottom. So most likely with DIA now back to 80 for a 4th test, it should give way for a good decline … time will tell … guess the trick would be only to buy if a post-diagonal rally is well under way rather than buying a falling market with risk of acceleration

]]> http://spiralcalendar.com/2008/11/one-day-wonder/comment-page-1/#comment-261 Jon Eeles Wed, 19 Nov 2008 16:40:43 +0000 http://spiralcalendar.com/?p=1065#comment-261 The S&P 500 cash closing low of 27th October is still intact. A quick trip to below 817 followed by a strong reversal would complete an ending diagonal triangle from 1044. This is still a potentially bullish set up. The S&P 500 cash closing low of 27th October is still intact. A quick trip to below 817 followed by a strong reversal would complete an ending diagonal triangle from 1044. This is still a potentially bullish set up.

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