Posts by "citiboy"

Dave can you please explain what the retracement levels will be on the S&P the following as far as possible? Do you have a chart? Would I be right in thinking downleg to 1080 S&P cash with a retracement up to 1135-1153

'We are now seeing the early stages of wave 5 down to a lower low, this would take the form of 5 waves within and once finished we would expect to see a multi day retracement back up to about the 61.8% to 78.6% of the entire move down. Following that the next move down would be very impulsive and will likely trigger much higher gold prices. All subject to confirmation as the structure develops further

Naresh

Dave with the indices rallying the other day youi mentioned you saw downside to 10300ish before upside. Does this move up in equities mean you will be using an alternate count? If so what does this mean for the Dow? Could we break into the 12k range?

Thank you Dave for such a well constructed answer that even a newbie like me can understand much appreciated sir

Hi Dave this post is very interesting. Can I ask a few questions.

(1) What would be the target for the new low to complete 5th wave down?
(2) I don't understand why this why this sequence will represent Wave 1 down?
(3) What is the target range for Wave 2 up?


SPX pattern exactly as predicted, it made the 127% extension on 1hr chart for wave 4 but we now need a new low to complete the 5th wave down in the sequence. That sequence will represent a minor wave 1 down. Wave 2 up will then follow but must not make a new high for the count to be validated. Wave 3 down will be the biggie, you aint seen nothing yet ! There is an alternate bearish count which I wont bother to describe unless it starts playing.

Thanks in advance

So at what point do you start shorting Gold? Surely its due a pullback. The rise from 1480 has been too fast. I'm thinking a short at 1600 on a technical level how do you analyse as this is uncharted territory.

DaveO would love to have your thoughts on this mate