Saturday, May 19, 2012

Low 3 days way? AGET Wave change


I have updated this chart to the new AGET wave count and the old one is in (red). I also did the new bias so much has changed.

Looking back at really oversold indicators I think we could see a low in 2 to 4 day based on the past.

This is not because I have 144TDL on 5-24.
May 2nd looked like we would have a hard time but low and behold.
I built this below chart in Feb when Apple was going to $1000, GS was saying this is the best time ever to buy stock and the emerging markets would carry the World.
Oh yes 1450 to 1525 was on deck for the SPX.

With the wave count changing if it holds, the high for 2012 probably is in and any rally will be lucky to get to 1370 SPX.

One problem is the $$! If it keeps climbing the FED could and probably will come out with QE3
however QE3 could scare investors big time in to thinking how bad a shape are in.
I would not follow Buffet, his time is up, like every great investor who finally hits a wall.

Good trading to all. Jerry O

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