The dow futures are on a downtrend in a band today between 12140 and 11860. The down trend is moving down about 30 points per day, if it brakes the upper band it has to them brake 12300 band for the dow to continue it bull trend. If it brakes its lower band of 11860 it can drop to 11500. The alsi follows the dow to the same percentage. Check out the below chart. http://i231.photobucket.com/albums/ee257/gvitali/Shares/Dowfutures6-24.jpg
Primary count-We are trading a triangle.(Condition-sp500 must break 1300 to upside.)Target top trendline of triangle.If it breaks + width of triangle.Big possibility for trunscated wave 5 at trendline. Secondary count.-We are trading a expanded flat on the sp500 and currently in wave 4 of wave c down.Target for alsi then 27700+-.(wave 4 up)(shortterm).longerterm 25000.(wave 5 down). important levels to watch is sp500-1300.Alsi 27700-27800.This will give me a clue which count is correct.
The news out on Greece lifted the market nicely, I got caught short, but went long just after the opening, long target objective was met at 27620, went short at 27600, reason pivot and we are over extended, my view we drift much lower from here to about 27200 region..
Casino (one arm bandit)told me to close long.Be happy with 900 points.Waited to long should have closed at 620.In cash now waiting for a new clue.Think we in a zig zag correction with wave c down to begin.
Hey Christos, I certainly have learnt a lot from your posts because i understand it and remember when you post a view, the contrarian view must not be made after the fact..so well done for taking a stand on the ALSI based on your system and posting it on the forum...some agree, some disagree and thats what makes a market
Yes Rams.I agree.It is not nescessary to agree with someone all the time.I take a lot of notice from posts from yourself,Frost,Mark11 and virilius and others.It is important not to be negative,if u do not agree with someone.