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   Strategies & Market TrendsClassic TA Workplace


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From: Henry J Costanzo8/4/2013 9:47:19 AM
1 Recommendation   of 209829
 
SPX/SPY EW updates:

On the SPY daily chart, Friday launched terminal wave (v) up, of iii up, counting from the June low. The relative length of the various waves,,,and the rule that the 3rd wave of an impulse cannot be the shortest…sets a maximum of 172.62 for the terminal (v) now underway..


Moving to the SPX weekly chart, the terminal wave v up launched at the June low would reach 1768 IF…as is often the case.. it equals the preceding wave 1 of 2011..

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To: Henry J Costanzo who wrote (204104)8/4/2013 12:43:23 PM
From: MGV
   of 209829
 
AAPL - thank you for the update Henry.

It looks like the share price could come down a bit without violating the uptrend from late June. How far down is reasonable without jeopardizing the db formation?

It also looks like the share price has a date with the 200 dma in relatively short order. What significance is there to that event, if any (other than the resistance you mention)?

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To: MGV who wrote (204106)8/4/2013 1:27:30 PM
From: Henry J Costanzo
1 Recommendation   of 209829
 
The '"db formation" is still very much in the realm of an uncompleted possibility…and thus premature to speak of its being "jeopardized"..

Ideally, any pullback here should not break below any of the several nearby support areas..including the uptrend line from late Jun, as well as a new small uptrend line through the lows of 7/23 and 7/26, and chart support at {EDIT}457 and 442..

Moving averages do not form part of Classic TA and…as I have said many times...I regard them as nothing more than sometimes useful smoothed indicators of trends of various duration…However, it has become quite commonplace for many ..or most...analysts to consider falling MAs of any duration as resistance areas..and that in itself, of course, makes them something to watch..

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To: Henry J Costanzo who wrote (204105)8/4/2013 3:48:21 PM
From: hawkeyefan
   of 209829
 
I see this as a bunch of 1,2s or something corrective. I like the three 1,2 count. Working on 3 up now or the fourth 1,2.

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To: hawkeyefan who wrote (204108)8/4/2013 4:29:05 PM
From: hawkeyefan
   of 209829
 
Another view.


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To: hawkeyefan who wrote (204108)8/4/2013 5:38:03 PM
From: Henry J Costanzo
   of 209829
 
??? i-2s would hardly be corrective…???…..That's much more bullish than my count ???

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To: Henry J Costanzo who wrote (204110)8/4/2013 5:45:48 PM
From: hawkeyefan
   of 209829
 
I meant the whole move up from July 26 as possibly corrective. Looks like 1,2s to me though.

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To: Henry J Costanzo who wrote (204110)8/4/2013 5:47:08 PM
From: hawkeyefan
   of 209829
 
Either a "b" wave or 1,2s.

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To: Henry J Costanzo who wrote (204110)8/5/2013 10:16:09 AM
From: hawkeyefan
   of 209829
 
The SPX sure likes overlaps since July 26.

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To: MGV who wrote (204106)8/5/2013 10:20:36 AM
From: Henry J Costanzo
4 Recommendations   of 209829
 
AAPL alert…Moved above the May high of possible Double Bottom formation..A confirmed decisive breakout should extend to at least 475, with a volume upsurge..

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