tag:blogger.com,1999:blog-947237681666122369.post4700332111755769796..comments2024-03-18T14:37:21.899-10:00Comments on Pretzel Logic's Market Charts and Analysis: SPX Update: Indecision 2012PretzelLogichttp://www.blogger.com/profile/11613859771824863784noreply@blogger.comBlogger382125tag:blogger.com,1999:blog-947237681666122369.post-73351990555824680642012-02-08T14:14:00.309-10:002012-02-08T14:14:00.309-10:00Good evening PL, could I just comment on the SPX c...Good evening PL, could I just comment on the SPX chart? <br />My first query is that leading diagonals are rare beasts yep?<br />Common things are commonest so an LD would be a ways down the list as a first choice solution?<br />Second, the i - iii and ii - iv lines diverge (much more so in the Dow), which is somewhat puzzling for a diagonal.<br />But: If one re-labeled wave i as (1)-(2) - 1, ii becomes 2, iii = 3, iv = 4, 1 becomes (3), 3 then becomes (5).<br />This (5) is also 3 circle and your 5 is 5 circle as per your alt mentioned in the text.<br />That would be the end of the C wave as you indicate but by a different count so no big deal.<br />Also, re nested wave 3s. In a bull market and 3 being the strongest wave by far, and nested to boot, <br />shouldn't the volume be large and increasing?<br />At the moment apart from a few retirees buying a dozen or so shares once in a while, no-one is buying. <br />Volume is low (marketwatch), and falling day by day, action is listless and dragging.<br />So these are my queries, is there something to them or are they off the wall? <br />Appreciate your comments.<br />Thank you for the articles you write, the charts and so on, I find them most interesting.<br />Kind regards,<br />UKDNY <br /><br /> UKDNYnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-19833263267592222152012-02-08T01:38:18.912-10:002012-02-08T01:38:18.912-10:00Okay, the most exhausting update I think I've ...Okay, the most exhausting update I think I've ever done is posted. Let's continue discussion over there. :)Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-57601420836887630352012-02-08T01:32:05.916-10:002012-02-08T01:32:05.916-10:00I am glad you got it because I don't. lolI am glad you got it because I don't. lolkatzo7noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-51463749168138642322012-02-08T01:28:30.869-10:002012-02-08T01:28:30.869-10:00we should be coming up to a retrace point very soo...we should be coming up to a retrace point very soon. I get a level of ES 1339.25 to 41.50.katzo7noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-39872151169421968022012-02-08T01:26:28.347-10:002012-02-08T01:26:28.347-10:00definitely slower and the waves seem cleaner RTG t...definitely slower and the waves seem cleaner RTG then. . .katzo7noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-76432235471642426672012-02-08T01:24:01.374-10:002012-02-08T01:24:01.374-10:00:):)michaelhttp://profile.yahoo.com/FV3ADO46IJ3ZWTCTNUCIQBFYRQnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-38739916991498420882012-02-08T01:23:02.983-10:002012-02-08T01:23:02.983-10:00Thanks Pretz will have to read it when I get up.Thanks Pretz will have to read it when I get up.Phoenix58noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-53482963443459103332012-02-08T00:11:33.434-10:002012-02-08T00:11:33.434-10:00Thanks, Randall. I live in Maui (Hawaii).Thanks, Randall. I live in Maui (Hawaii).Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-3616509740942941462012-02-08T00:07:02.437-10:002012-02-08T00:07:02.437-10:00I agree RockR. The markets have such little volume...I agree RockR. The markets have such little volume that it would be easy for the banks to buy on behalf of the FED. The FED knew (when they announced all central banks were working together on dollar swaps) that the market was about to plunge. They could not let that happen. Ever since then, everything just seems odd. Indicators and cycles not working?!? If they are manipulating things behind the scenes - like the banks tried to do in 1929 - it will be short lived, but I can not trade this market until it starts to same sense. michaelhttp://profile.yahoo.com/FV3ADO46IJ3ZWTCTNUCIQBFYRQnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-16036058264683315492012-02-07T23:10:38.891-10:002012-02-07T23:10:38.891-10:00Great website and market letter, thanks very much....Great website and market letter, thanks very much. What part of the country are you located in? <br /> Randall (s. CA)Randallhttp://profile.yahoo.com/S7GX374TOVPSSITDC5NK4WOCWYnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-86379117817937333462012-02-07T22:50:44.479-10:002012-02-07T22:50:44.479-10:00lol, thanks. Rain/wind seems to have finally died...lol, thanks. Rain/wind seems to have finally died down a bit.Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-27329236923550804012012-02-07T22:24:54.770-10:002012-02-07T22:24:54.770-10:00can't wait pretz, good luck. hopefully those p...can't wait pretz, good luck. hopefully those power outages keep away. save often, may the force be with youmavrichnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-59466125360554423862012-02-07T22:21:34.815-10:002012-02-07T22:21:34.815-10:00I think I've got it. After studying this thin...I think I've got it. After studying this thing for the last 3 weeks trying to see other angles, I think I finally understand the five wave decline in context, and why this market threw everyone. Tomorrow's update is kinda long because there's a lot to cover... still working on it.Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-31550044420220954652012-02-07T21:36:20.897-10:002012-02-07T21:36:20.897-10:00That's an interesting strategy. Trade on quiet...That's an interesting strategy. Trade on quiet days!Dust Devilnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-26864944927219037872012-02-07T21:17:27.314-10:002012-02-07T21:17:27.314-10:00I've found I do my best trading with currencie...I've found I do my best trading with currencies in the evenings and with ES during the trading day when there is no big data or bernanke anywhere to be found....when that happens, price action seems to track technicals better making my entries and exits cleaner. Just my newbie observation.RockyTopGunnernoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-16968531518537517172012-02-07T21:06:18.947-10:002012-02-07T21:06:18.947-10:00Not to disrespect PL's work, best I have ever ...Not to disrespect PL's work, best I have ever seen, or anybody's calls for a top, I think we are in unprecedented times right now and EW, etc cant correlate to manipulation of the likes we are seeing. Hindsight will tell the story but I believe the counts are being decieved much lke the recent employment numbers. Bonds are starting to show a turn and Cramer had a great chart showing how bonds and volitility were hand in hand until QE caused a huge diversion, sorry now chart to post. I hope I said that right as I caught the very end of the segment. Man can fabricate numbers for a time but eventually the market will dictate the truth and this time the truth will hurt terribly. It will be interesting to see what the charts say then. RockRhttp://profile.yahoo.com/_SJ7XMQ7LYOTRCGGZOG222ITZIMnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-73645794041661536292012-02-07T20:55:08.890-10:002012-02-07T20:55:08.890-10:00Thanks TThanks TRockRhttp://profile.yahoo.com/_SJ7XMQ7LYOTRCGGZOG222ITZIMnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-19752400420973498262012-02-07T20:18:42.817-10:002012-02-07T20:18:42.817-10:00CNBC has 12876.CNBC has 12876.truerangeballisticnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-21896959031839714032012-02-07T20:17:48.330-10:002012-02-07T20:17:48.330-10:00It would tend to have a pretty dramatic effect on ...It would tend to have a pretty dramatic effect on long term wave counts,wouldn't it?CalDnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-20573826926017976662012-02-07T20:17:07.184-10:002012-02-07T20:17:07.184-10:00Yahoo has been known to be off sometimes but they ...Yahoo has been known to be off sometimes but they do have that price as the high on May 2, 2011. I am gonna check another source.truerangeballisticnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-11741520144529715452012-02-07T20:07:25.817-10:002012-02-07T20:07:25.817-10:00Thanks, betoq. I would never have found in-depth a...Thanks, betoq. I would never have found in-depth articles like this without other people mentioning them.Dust Devilnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-27503035287252055212012-02-07T20:06:26.615-10:002012-02-07T20:06:26.615-10:00For those of you frustrated by the market lately a...For those of you frustrated by the market lately and wanting to dip your toe into placing a few side bets on world events, check out the current sports book odds from the UK - gotta love the Brits:<br /><br />-Greece leaving the Euro by the end of 2012: 0.6:1 they will, 1.2:1 they won't <br /><br />- Greek currency by end of 2012: You can get 1.625:1 on the Drachma - good cover bet <br /><br />- US Presidential election: Obama the heavy favorite @ 0.45:1<br /><br />And my favorite of all , the nationality of the next Pope: thinking of taking a shot on the Irishman @ 50:1<br /><br />Damn Brits will bet on anything - Funny Stuff, check it out, but this is not gambling advice ; )<br /><br />www.oddschecker.com/specials/polítics-and-electionKB03noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-47230409498959808252012-02-07T20:04:33.519-10:002012-02-07T20:04:33.519-10:00Below is what I understand. Perhaps others have b...Below is what I understand. Perhaps others have better explanations.<br /><br />Technically, the Fed doesn't use our tax money. The US Gov & Treasury Dept do. The Fed does 'debt monitization' that allows the US Gov to issue T-bills & Treasury notes so the Gov has money to spend. QE1, QE2, and Operation Twist are debt monitization programs, which have similar effects as money printing. The Fed actually doesn't print the greenbacks, not yet. When this debt (Treasury) bubble gets busted, financial institutions will see their balance sheets shrinking. At the point, the US Gov and the Fed will have no choice but to print the greenbacks, to backstop a run on banks. Stock and Bond markets will crash then, and the rest of us will be stuck with hyper-inflation.<br /><br />The Fed is a bank, and it's allowed to make loans to other banks as well as to buy US Government backed securities like Treasuries and Fannie/Freddie MBS. The money swap with ECB is a loan program. The 2008/2009 bailouts for banks were also loans. The problem was that the collaterals for these loans were toxic assets. It's like someone lends me a $40K loan to buy a brand-new BMW, but I use a beat-up 1990 Chevrolet as collateral!t_winnnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-79592639111655505162012-02-07T20:02:48.502-10:002012-02-07T20:02:48.502-10:00hussman recession call still on http://www.hussm...hussman recession call still on http://www.hussmanfunds.com/wmc/wmc120206.htmbetoqhttp://twitter.com/betoq01noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-13686011815842791102012-02-07T20:01:20.694-10:002012-02-07T20:01:20.694-10:00One can use inflation adjusted numbers, that's...One can use inflation adjusted numbers, that's not unheard of.Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.com