SP

John, I hope you can understand this chart. This is a fifth wave but not the final fifth wave.

I am looking toward 633.75 to complete this third wave brown then fourth out to line, shown on chart then lower. That will complete wave blue -3D-. The -2D- is up there at the top 5/19.

then the larger fourth wave pattern before the final wave down.

I was hoping or thinking that this wave down from the 2008 high would be an -abc- pattern. Not so, but it will be an -12345-.

I hope all is well with you and all the bad news is not getting you down.

The chart here is one I made a few days back thinking it would be approximately how it will unfold now. The picture gets clearer as one gets closer to the bottom.

I was thinking of shutting this site down. The charts are available at the forum---

http://tfc-forum.tradingcharts.com/forum/

SP daily

This is an update of the chart.

John was right all along with this being a fifth wave pattern down.

This when finished should put the last fourth wave and fifth wave up to finish this downside. I should say if this is not an -abc- wave pattern and what I am showing as an -3D- is really an -c- wave.

Oil

The target for reversal is holding so far.

The small -1-2- formation targets 52 bucks. I use 2.382 for projection of the -1-2- spot and then 3.382. There only general points of reference. Sometimes the market turns right on them, but have not found any number that gets higher then 50% accuracy.

It would be nice to see more of a pattern, as this market takes forever slowly to develop.

sp

What a funky day.

If the operator held till closed they would have been knocked out at a lost before then by my standards.

The trend line is always wise to listen to and a good tool to use for exiting.

Looking south still and another sell. Hopefully a little more trendy. This fifth wave has been sliding the banister and giving bounces time an again causing a trading problem for those, like me, that like to position and hold for the day.

Support trend line is drawn and would like to short at .618-772.75. If it blows this marker, the pattern then becomes a fourth wave of a larger pattern.

Gold

Target has been reached. Monday should confirm or deny it.

Depending on one's aggressiveness will depend how they go short. I personally see not much upside if any more at all here. Silver shows stronger, but the two go together.

When drawing trend lines. Try to hit as many highs/lows and closes/opens as possible.

sp intra

I tried to sell this where the chart showed using the high as turn point. The market dropped briefly before turning back. No go trade, two points if one did not eject early.

The upper consolidation creating a floor for selling point. Hold to end of day. That should have generated an 700-800 trade for the day. The market usually will retrace starting somewhere in the last half hour and a good time to bail to save profits.

This market is still south. I put the labels I think appropriate on the chart.

Breaking the trend line on last chart north only stalled the inevitable or retracement of the direction of market. The channel still stands viable as the market keeps sliding that banister.

I will look for another pull back to enter on the short side. The -b- wave is not final is my opinion, or a little lower is justifiable before retracing.

SP daily

Took a day off and relaxed with the wrong thing in my hand. The last chart is screwed up from that little error of juice. The language is worst yet.

So let's go back to daily and then to trading chart bars.

This chart pretty much has the pattern right. The blue -3D- is not finished. This down move will get that label placed.

Expecting to touch or very close to 738.5 at the line there.

Working out a fifth wave.

Then another fourth wave kicks in. The correction or corrections are not over. Till they get out to the trend line angling down on the right. That up move would also target the other line at 962. If your a little more bullish the target could be 1002.75.

So the next month or so is consolidating between those points, before lower.