TOPI

[Rams]

yes, as always , until US opens.

[Rams]

Look at daily chart, price making lower highs and indicators(stochastics, MACD) making higher lows...divergence a powerful sign of end of WAVE C and imminent reversal...means buyers(like myself) are accumulating, and shorts are covering.Todays close will point the way forward...

[Rams]

am now intrady short on the 3pm 15 minute candle...looking for just 200 points.

[Rams]

that was a quick 100 points...

[Rams]

DOW opens with gap down...now there is a upward gap to close and a downward gap to close....looks like upwards first?

[Rams]

so just managed a quick 100 points only...

[Rams]

and short closed...looking for a long now.

[Bouwer]

I rally can't tell at the moment.. To me the trend is down for the moment.

[Rams]

yes, trend down, like when trend still up in end of wave 5, but indicators show divergence downwards...time to get out and time to get in...

[Rams]

battle between the bulls and bears at the line of the 2 gaps...what a spectacle out there

[Penny_Pincher]

macd + rsi crossovers, is that what is known as power crossover?

[Rams]

Don't know, but if it has, it would be powerful.....

[Rams]

so DOW closed green, we close very green today, bottom in place?

[Bouwer]

Well for the moment it looks like you are on the right track Rams. If it does pull off, great call!!

[Rams]

Divergence and Elliot good for calling end of waves, but can drag into complicated corrections .....another long on the 2.45 pm candle and in profit , with stop at breakeven

[Cedric_1]

Call me a pessimist but i see a dead cat bounce like August 2008. I hope i'm wrong.

[Rams]

Yes, I also see 2008 on the longer term charts....but I also see lost opportunities for the then long term....

[Cedric_1]

then its just a case of calling the bottom of the drop and thats for the crystal ball. I'm currently 100% in cash but then i only go long

[Rams]

I called the bottom based on technical analysis, Elliot wave and divergence.....but you right, it's not crystals balls . If we get 2008, it might be a good thing....it would be a great sale....especially if you all in cash

[Cedric_1]

I'll wait for DOW to break 200 and then look more closely. This time i am not going to rush it!