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Market Commentary 25SEP11

Market Commentary 25SEP11

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Published by AndysTechnicals
Updates on the S&P500, Gold and Silver using Wave Theory and Technical Analysis
Updates on the S&P500, Gold and Silver using Wave Theory and Technical Analysis

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Categories:Types, Business/Law
Published by: AndysTechnicals on Sep 25, 2011
Copyright:Attribution Non-commercial

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04/18/2012

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Andy’s Technical Commentary__________________________________________________________________________________________________ 
 
S&P 500 ~ Daily
“x”
 
“y”
 
abcd(c)-w-?(a)(b)-x-?-y-?e
“x”
 
The “gist” of the previous slides is that the wave down from the 1350 high is not yet complete. Our proposed e
-
wave within “x”
seems unfinished. Not to be too repetitive with previous updates, but this is not a good looking market at all. Longer terminvestors should have been long gone from this market. Short term traders can keep trying to short. The risk to the shorts is
that the market „grinds‟ them out in some sort of slow move back to 1230
-1250. So, the bias is to remain short this market--short term traders should keep in mind the resistance pointshighlighted on the previous slides. Longer term shorts
should just be prepared to ride out a “possible”
 move back to 1250 while they wait forthe S&P500 to trade down sub-900.
“z”
 
REPRINTED from 9/11/2011
 
Andy’s Technical Commentary__________________________________________________________________________________________________ 
 
S&P 500 ~ Daily
“x”
 
“y”
 
abcd-w-?-x-?-y-?e
“x”
 
The proposed -x- wave with e-wave took an extra week longer than we expected, but the result is the same. The move lower
had an “unfinished” look about it, exemplified by the extreme choppy/consolidative bounce from the 1100 lows. As it has been
 pointed out in the last several weeks here, taking out 1100 almost looks like a certainty. Bears will need to tread more carefully
once 1100 gets taken out, though. At that point, we‟ll
 be witnessing Daily RSI divergence and heading
toward medium term chart support in the low 1000‟s
 
“z”
 
 
Andy’s Technical Commentary__________________________________________________________________________________________________ 
 
S&P 500 ~ Daily
-w-?-x-?
-y-?e
“x”
 
The wave theory here is that we‟ve concluded a
neutral triangle at 1220. If this is correct, the marketshould not be able to trade above the 1154-1167 zonebefore completing the next wave down. The thrust out
of triangle shouldn‟t be much larger than 125% of the
widest leg, so my bias is that this -y- wave finishescloser to 1094 than the 1019 target.
(a)(b)(c)(d)(e)
d
Targets:
1094: -y- = 50.0% of -w-1062: -y- = 61.8% of -w-1019: -y- = 78.6% of -w-

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