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22 Jan 2012 21:33:32 -0000 Sender: Divergence@yahoogroups.com MIME-Version: 1.0 Mailing-List: list Divergence@yahoogroups.com; contact Divergence-owner@yahoogroups.com Delivered-To: mailing list Divergence@yahoogroups.com List-Id: Precedence: bulk List-Unsubscribe: Date: Sun, 22 Jan 2012 16:31:51 -0500 Subject: [Divergence] NASDAQ, 1/22/12, DAILY EW COUNT [1 Attachment] Reply-To: Divergence@yahoogroups.com X-Yahoo-Newman-Property: groups-email-ff-m Content-Type: multipart/alternative; boundary="----=_NextPart_001_0024_01CCD923.5ADE69B0" ------=_NextPart_001_0024_01CCD923.5ADE69B0 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit DAILY; Price, fractals and indicators have now traced the probable high of important wave c/C/2 in this period. No daily fractal has been traced at this point, although the four hour chart has traced its last fractal at this high suggesting this to be the high of 2. In addition price pattern traces a bearish AB=CD at this point. This high is an .854 Fib. retrace which is consistent with corrective wave 2. Wave c/2 includes many mistaken bulls who think price will move higher. Bears have set the trap for aggressive bulls. Wave 2 can retrace to 100% of chart high but no higher and still retain this EW count analysis. RSI traces an active RND at Wave 2. Reverse divergences ultimately always fulfill their prediction of either higher or lower price. They never disappoint. Unlike classic divergences which often do disappoint. Current 20 day SMA is much closer to the 200 day SMA compared to the prior price level circled in red. Bulls have lost strength and are unable to force their 20 day SMA higher compared with the previous period examined. This is an internal SMA negative divergence which suggests bears are actually in control of present market action. Faster MACD indicator shows loss of strength with its bars closer to its zero line and declining. This indicator often provides early warning of wave highs or lows and does so in this example. Comments; Impulse WEEKLY wave 1 and wave 5 in the daily is established. Daily counter corrective wave c/2 is also likely established (no fractal yet traced). These inverse 8 waves are a full 8 EW pattern lower and thereby establish this correction to be a Zigzag. Price is now or soon will be searching for the low of wave 3, next corrective wave 4, then wave 5 in the daily which is also wave (A) in the weekly. Vertical blue line wave 1, red corrective 2, green wave 3, red corrective 4, magenta wave 5, red corrective wave c/C/2. Vertical same colored lines remain on all charts of trading interest. Not all currencies, equities, etc. are as easy to determine price location in the EW cycle as this example of the NASDAQ. When uncertain of price location in that cycle do not trade. In other words the trader must know with exact certainty where price is locate in the monthly, weekly, daily and shorter time frame periods used for entry. Absent that explicit knowledge trades are merely guess work at best, IMHO. Loren ------=_NextPart_001_0024_01CCD923.5ADE69B0 Content-Type: text/html; charset=US-ASCII Content-Transfer-Encoding: 7bit  
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DAILY;

Price, fractals and indicators have now traced the probable high of important wave c/C/2 in this period.  No daily fractal has been traced at this point,  although the four hour chart has traced its last fractal at this high suggesting this to be the high of 2.  In addition price pattern traces a bearish AB=CD at this point.  This high is an .854 Fib. retrace which is consistent with corrective wave 2.  Wave c/2 includes many mistaken bulls who think price will move higher.  Bears have set the trap for aggressive bulls.  Wave 2 can retrace to 100% of chart high but no higher and still retain this EW count analysis.

 

RSI traces an active RND at Wave 2.  Reverse divergences ultimately always fulfill their prediction of either higher or lower price.  They never disappoint.  Unlike classic divergences which often do disappoint.    

 

Current 20 day SMA is much closer to the 200 day SMA compared to the prior price level circled in red.   Bulls have lost strength and are unable to force their 20 day SMA higher compared with the previous period examined.   This is an internal SMA negative divergence which suggests bears are actually in control of present market action.  

 

Faster MACD indicator shows loss of strength with its bars closer to its zero line and declining.  This indicator often provides early warning of wave highs or lows and does so in this example. 

 

Comments;

Impulse WEEKLY wave 1 and wave 5 in the daily is established.  Daily counter corrective wave c/2 is also likely established (no fractal yet traced).  These inverse 8 waves are a full 8 EW pattern lower and thereby establish this correction to be a Zigzag.   Price is now or soon will be searching for the low of wave 3, next corrective wave 4, then wave 5 in the daily which is also wave (A) in the weekly.   

 

Vertical blue line wave 1, red corrective 2, green wave 3, red corrective 4, magenta wave 5, red corrective wave c/C/2.  Vertical same colored lines remain on all charts of trading interest.  

 

Not all currencies, equities, etc. are as easy to determine price location in the EW cycle as this example of the NASDAQ.  When uncertain of price location in that cycle do not trade.  In other words the trader must know with exact certainty where price is locate in the monthly, weekly, daily and shorter time frame periods used for entry.   Absent that explicit knowledge trades are merely guess work at best, IMHO.

 

Loren

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