Smart Trades Update 7.27.11 S&P, QQQ, Government Manipulation

[ednan9]

S&P500 broken 1280 and looking weak

[GoSnowTahoe]

Look like Trader Joe has jumped on your triangle bandwagon.....

[zeuthuk]

Nice work as always Bill, very helpful to those of us learning Elliot Wave.

[MrYatesj1]

As always Bill you are a solid source of intel. Level headed, diligent in the work and never speculative. One step at a time, right. Nothing is 100% but you have been rock steady in the wave counts and this final up was part of the layout from past call. Lack of conviction will always be part of the others don't do the work and watch to much CNBC haha. Be Well

[wavetimerny]

we are in total agreement as sprial and fib cycle are pointing to major turn into 7/29 to 8/2 I myself went long calls 1308

[MrYatesj1]

Thanks Bill, I was kinda thinking the S&P would not be happy with either proposal as no one is really going to trim 4 Trillion from their budget proposal, in that regard we could see the real sell off after a signing. Speculation fer sure. Buying the dips has worked for 2 years now so your call of 1285 or so is very close to where we are right now on the S&P. As always muchas gracias for all you do.

Peas'

[T1systems]

@MrYatesj1 Also, you may have noticed, as we approach my targets folk's comments here tend to get a little nervous and doubtful as to whether the numbers will hold. After doing the work, I always at least want to have an open mind to the possibility that the work *is* correct. Also, *all* the declines since February have been corrective. From a technical / Elliott perspective that favors at least one more impulse up.

[T1systems]

@MrYatesj1 I can tell you *I* won't be happy with either proposal. As I said, 1250 kills the triangle basis the S&P, 2180 kills the flat in the NDX. Regardless of what happens it would be smart to be short off that NDX/QQQ wedge..... and "take it one step at a time". We'll see what happens at 1285 or so. I'll reserve judgement for now, but I'm bearish from 1356 SPX / 2438 NDX per my reports which targeted 1358 SPX / 2440 NDX...Aloha Brah.

[T1systems]

Most charts from the original report sent out 10:54 AM PST / 1:54 PM EST on July 26, 2011.