ALSI FUTURES FAILED GAP CLOSURE

[Rams]

Important technical level is 29360 - strong suppport at this level that prevented the GAP from closing. Tested several times and stopped about 6 points from closing below this level yesterday. Dominoe efffect- if closes below this level then next level will be 28275 then all the way down to 27000. (Wave B extreme,t hen wave A extreme, then WAVE C extreme.) If gaps down today, then ALSI will come back strongly to close GAP and overcome resistance at 29360.If GAPS up then will come back strongly to close gap and overcome support at 29360.

[#2]

Thank you Rams, but was this not obvious from the DOW action last night? a GAP DOWN was expected and we have it at opening WOW a gap failure or what was it you said? hehehe...but welcome to the party anyway.

[#3]

Of course this was all predicted by chartist at realchartist.com, yesterday already or did you not see the "early" video as requested?

[#4]

Excellent analyses.i agree.Further down in big wave c when us markets open.For now sp 500 (my guide) in a small wave c up (looks like a flat)and the alsi to follow its bigger brother.

[#5]

Good call Rams.Chartist fans all very quite.Do not even give u credit for a good call.

[#6]

Haha - so far so good Rams! Now, please predict that we'll trade up to (and through) 29,930 :)

[Rams]

not prediction but reaction to what the market does, so must close above 29640 before can trade thru to 29930. Its all here on OST - technical analysis research reports on ALSI generic futures. You can make lots of correct entries by just reading the report. Anyway about support, the DOW also bounced off support at 12 250(same WAVE B extreme-prev resistance -and ALSI a carbon copy of that pattern)

[#8]

Rams consider the following.I went short with a target of 29200-29150.Then the next target up is 29640.The reason is that the paterns developing on the sp500(1hr) and the alsi looks like a expanded flat.

[Rams]

Lets seee what happens at 29360, but price is falling from high of day....

[#10]

Rams what charts do you use and where is a good resource for reading about your wave system. if you dont mind. thank you

[#11]

A lot available on internet.Just google "elliot wave"

[Rams]

Yes, a lot on net. can look at Tech Analysis by Charles D. Kirkpatrick( also recommended by NINJA)

[Rams]

Christos, your target not far off....

[#14]

Closed my 1 contract already.Order i @ 29200 for the other.Then relax a bit waiting for wave c of expanded flat to start (long).

[#15]

Yes nice trade Christos, I close to early at 248. Congratulations.

[Mar-11]

out my short at 224....looking for long possibly 180-190...will see the price action thu..

[#17]

Thanks CPS same to u.SP500 reached its target i am in long now with a tight trailng stop for wave c up of expanding flat.Will post a terget.

[Mar-11]

me long now..

[Rams]

Out also at 29220.

[#20]

CPS The realchartist ag i mean the realtarget for wave c up is 29650-29840.But i could be wrong.By the way dont tell Chartist its between u and me.29650 bottom of gap 29840 top of gap.