Smart Trades Update 6.28.11: Elliott Wave Analysis S&P, Bonds, Crude, Euro FX, AAPL

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Smart Trades Update 6.28.11: Technical and Elliott Wave Analysis S&P, Bonds, Crude, Euro FX, and Apple (AAPL).

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[ednan9]

what is a 'd' wave? I thought its was only A, B, C. A new video is requested, what a week for the bulls.....the market made all the losses in one week on relatively strong volume...and I have heard that markets tank much faster than they rise

[T1systems]

@ednan9 Read Elliott Wave Principle by Prechter or Elliott's original texts. Triangles break down into 5 waves (a-b-c-d-e). I've been saying this could be a triangle for over a month (see my May 30th video) and that it should rally to 1340-1350. If you want more frequent updates, or your own private video, please visit the Smart Trades dot com website.

[ednan9]

@T1systems Thanks. The ferocity of this weeks rally caught me by surprise. 

[T1systems]

@ednan9 The speed of the rally surprised me too, but my thinking for months has been that A) the move starting down back in February has been corrective, and (by definition if that's the case) B) we will see new highs above 1370, and C) since late May the pattern has counted best as a triangle. All that points to 1340-1350 at least, and higher prices later. Note a popular analyst was sucked into looking for an acceleration down right at the recent bottom. Nearly everyone "liked" his vid.

[wavetimerny]

we topped today could sub div into 1328 but cycles that were up from 6/11 to 6/18 sprial low now point into 7/14 to 7/18 low wave b ending

[T1systems]

@wavetimerny Just so we are clear, the *bottom* was on 6.16, and you projected a top near 1413 for that date right? "focus 1413 on 6/11 to 6/18"....Am I missing something?

[wavetimerny]

IF SP BREAKS ABOVE 1352 would lead to 5th wave blowoff into the sprial turn 7/11 to 7/18 focus 7/14 I would hope this would be wave d into the close we will know by thur both ways the markets are in the last wave next sprial are 9/12 and 10/20 I SOLD OUT OF ALL LONG TRADES ON THUR CLOSE move to short long puts the view on timing is this is a worldwide event in banking coming into 7/18 the U S $ to begin long term bull and last support in gold and crb as deflation cycle 2nd phase into 2013

[ednan9]

@T1systems great info. Would the move above 1370 be counted as the 5th wave?  the way we went this week, i will be be very surprise if we don't surpass 1370....the volumes are high too, sounds like the ordinary investor/institutions have gotten sick of fear fundamentals in the market....

[wavetimerny]

reason is that a alt wave count must be watched for as we are a minor sprial in time on open and if we break past 1333 the alt wave willbe removed

[T1systems]

@wavetimerny Huh?!? Here's your last post: "wave 3 of 5 up has started 1396 to 1423 focus 1413 on 6/11 to 6/18 wavetimerny 1 month ago...." at that time, you'll remember, we were @ 1340 or so in late May and I was calling for 1250-1275, to be followed by another bounce to 1340....