Friday, August 21, 2009

SPX - A Red And Black Wedgie

I don't see how, technically, this red wedge will not lead to a throwover top of the black wedge that should eventually lead to a pullback of some significance.

At this point I am imagining that the red wedge break will be a 1 of 1 of P3 and the black wedge width will be 3.1.3. Talk about an ass kicking. Of course if those comprise 1 of 3 then what the heck would 3 of 3 be like? That is hard to grasp, which is why I believe that P3 wil have wave 1 possibly be the longest of the three waves with 3 and 5 being increasingly shorter. Just something to ponder over the weekend. We're gonna crash. When is the great question. The higher we go the harder we will fall.


  1. shank, love your work, one of the best imo

    gettin ass kicked on ung and sds

    markets totally irrational

    is it possible we wake up some morning and futures down 300? this whole run is such bs

    will ung ever recover, i mean how can ng stay low so long


  2. Downline

    Speed bump, guard rail, or brick wall?

  3. Look at a monthly on Nat Gas. Historically, Nat Gas drops to 2 or lower during recessionary periods. UNG sucks!

  4. WM - use stops and don't be afraid to dump losing positions.

    S135 - I'll take a look.

    Samiam - Not in a house not with a mouse not monthly not weekly I do not like the hopes of UNG for a while. I'll add a monthly chart to the chartbook. Thanks.

  5. S135 I have seen that line. Speed bump IMO mighe have more meaning on the way down possibly. Thanks for the chart. Love your perspective.


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