dryanhawley

dryanhawley

Went short an the new all time highs

dryanhawley

If we get a 4th wave here it will be smallish. If you look where I put Wave 1 UP in March, that is a small wave 2. I drew an arrow with a pointed in blue to show what i mean by a small wave 4. The ABC at the top was for the entire set of 5 waves up in the daily candles. I don't think it will be that big, more than likely it will go down to either my red line or...

dryanhawley

The SPX is Bullish, now doubt. But we may be beginning the 4th wave, which is typically complex and corrective. After that wave 5 up to new all time highs more than likely. The wave text got moved to the left when this was published, the wave C ended at 1989.8.

dryanhawley

Of course the market may correct, and will at any given time. It can't go up every day! I am just suggesting that Manage Risk to profit. This Heikin Ashi chart shows the longer term (daily) trend, for now. Notice i am posting this with a neutral bias.

dryanhawley

Use the longer periods to figure out the real trend. I challenge anyone to show how it is not UP. When the markets go down it will be 500 points a day in the DOW and 50 in the SPX. Trading only the "counter trend corrective waves" DOWN is very hard to profit from. If you use proper Money Management you can reduce risk, and lose only 2% of your portfolio on the...

dryanhawley

Yes this is not a popular view right now, in the Idea Stream (although popular in the room I trade in). My previous chart showed how early in Obama's reign we got a strong, complex wave 2, and this last year we got a wave 4 that is a simple ABC. Everyone here, in Idea Stream thinks we will go down next, and that is Bullish. We may go down because of recent...

dryanhawley

All were Bearish except one, and that one called for a 60 point down move first. Take a look at the DAILY candles, yes there are some hairy tops but they are solid green. The fact that everyone is bearish is a contraindicator for me... Possibly the up move continues... We are above all the EMA's, above the Ichimoku cloud, yes the stochastics are near the top,...

dryanhawley Updated 

A 38% correction will take us to the 2000 and 2007 tops expect more than that, look at 2003 and 2009

dryanhawley

If we break SPX500 2137 with strength and continuation we will be in a wave 5 UP. Traders are supposed to be Neutral and be able to see both sides of the market.

dryanhawley

We got almost a 23% correction early in 2016. 38% to 50% are average Fib retracements. For a Full Bear market we could see SPX 673.

dryanhawley

We are just beginning wave 5 down impulsive and complex to go below waves 1 & 3 This is a weekly chart pointing to the trend.

dryanhawley

I modified my Stochastics to match Fibonacci numbers