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Monday, November 10, 2008
8:30am Earnings Before the Open: NXST, FCFC, MDTL, GNET, VCGH, PSEC, EPCC, PMFG, AXAS, VSR, JBT, EPE, LNY, URRE, BPZ, ASCA, ORCD, CYTX, LEE, WWAT, KDE, ABMD, FEED, ALD, ACAS, AOB, AHR, ARJ, ARQL, CNTY, GIB, CNK, CCO, CLWR, CODI, DISH, EPEX, ENER, FNM, FTR, FTEK, GMET, GLG, HWCC, IART, ISIS, NNI, [...]
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This post by MktMike has been promoted from StockTock Social.
It has been said before but perhaps we should start looking more towards the Nasdaq instead of the S&P. A few weeks ago my post got promoted to the main page showing the comparisons of the 1929 bottoming process to today’s price action. I threw out [...]
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3:54pm
ES 10m: Still trading above the 61.8% retracement at $895.
3:02pm
Regarding Elliot Wave, it is still not clear whether which wave structure is playing out. Always important to keep an open mind.
Wave 1 down of wave 5 of 3(3)
I favor this scenario because this selloff feels impulsive, not corrective
Wave b down of 3(4)
Wave b retraced nearly [...]
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This post by Jerry48 has been promoted from StockTock Social.
These three charts pretty much speak for themselves. Personally, because of my bearish bias, I favor the Elliott Wave Intl count, with the market heading down in 1 of 3 of 5 of 3.
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This post by BMF1024 has been promoted form StockTock Social.
After a week of waiting, we finally start seeing some pullback. This is healthy for *both* camps.
I’ve been watching this correction since it started, waiting for a pullback to confirm the bull case. I’ve been holding my short positions during this time, staying with the main [...]
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Here is the Meredith Whitney interview on CNBC earlier today.
4:05pm
ES 60m: Has retraced 33% of its bounce off the $825 low.
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Possible Wave Count
SPX 60m: Credit on this one goes to Kenny from his public chart list. Scroll down to the bottom to view his chart and supporting analysis.
* There are several possible wave counts right now from different technicians, so be careful putting too much stake in any one count.
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When bonds sell off (yields go up), stocks may go up or down. When bonds rally (and yields go down), it is UNUSUAL for stocks to RALLY. It can happen, but it’s unusual. It happened today. Here is an intraday chart comparing the S&P and the 10-year treasury yield (TNX).
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