Archive for May 2012

05/14/12 – Off Line Next Week, Step 3 © ™

May 14, 2012

INDEXES, INDICATORS & GROWTH STOCKS

CHART LINK – at StockCharts

**********************

BUY/SELL SIGNAL IN FORCE – NEUTRAL

Bought on Thursday 5/11/12 at 2:36 AM EDT

Sold on Friday 5/12/12, not short

**********************

LONG TERM – Up (black 3, chart #10.8)

INTERMEDIATE TERM – Up but Questionable (blue 2, chart #10.6)

SHORT TERM – Down

**********************

TWITTER

BobsWaveCounts – When I don’t blog, I’ll tweet.

**********************

WHAT’S HAPPENING

Just a note that I’m going to be out of the loop for most of next week.  I might be available in the evenings and  I may post or Tweet but I’m unsure and certainly I won’t say anything if nothing has changed.  There is always the possibility that I won’t have access to the internet (horrors).

It’s difficult to judge with certainty what the wave count is doing.  I suspect that we never finished 3rd step down (or began it).  I think we ended step 2 down and are now beginning step 3 down.  Step 3 will likely end on a whimper or a bang.  If I were to choose at the moment I would say an ending on a bang.  That means there will be a climactic ending to step 3.

With bad luck, step 3 will end while I’m out of the loop.  I wouldn’t like that.  So I’m rooting for a bottom this week.  Jeffrey Saut is looking for a bottom this week.  Of course he and I both thought it occurred last week.

I find dramatic and dwindling interest in my blog (and charts), that’s probably a good indication that we are nearing a bottom.  Most investors walk away in disgust prior to bottoms.  I never walk away because I’m too stubborn and I know how the process works.  Presently, I’m like a blind man feeling for the bottom that I dropped.  I know it’s there and close by, but I can’t quite put my fingers on it.  I’ll find it, I always do.

Of course, there is always the possibility that I’m wrong and Terry Laundry is right.  He is a BIG Bear.  I don’t even want to think about that because it could kick us into the large step 3 (red, chart #10.9) disaster scenario.  I don’t see it (yet).  I think there are too many band-aids left in the box to put on the hurt economy.  Someday they will run out of band-aids and I will be on the bear side but for now, I have hope.

Don’t forget that the Hurst Cycles are looking for a bottom at ANY MOMENT.  It’s a decent length cycle and one that we should see a decent rally.

05-14-12 SP FUTURES 15 MINUTE BARS

All Rights Reserved  © ™


%d bloggers like this: