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Imminent and severe market correction

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wavepicker said:
I notice you took an interest in Magdorans work, do you use Gann Geometric techniques as well?
Click to expand...

Mostly time cycles a la McLaren, while price axis I treat it in a simple and classical fashion. Every once in a while I throw on the chart angles or price vibrations but quickly revert back, simple works better for me
 
Interesting dates Waves. Here are my seasonals for the last 25-years. November 7th (yesterday) the start of weakness through till the 19th...

 
Nick Radge said:
Interesting dates Waves. Here are my seasonals for the last 25-years. November 7th (yesterday) the start of weakness through till the 19th...

Click to expand...

Seems like these are lining up quite well then ATM, will be interesting to see how much further weakness we might have going into the end of next week.

If we do get another leg up after mid November it might lead to a very significant in the first 3 months of next year, but for the moment trend is down will trade accordingly

Cheers
 
soso said:
Mostly time cycles a la McLaren, while price axis I treat it in a simple and classical fashion. Every once in a while I throw on the chart angles or price vibrations but quickly revert back, simple works better for me
Click to expand...

I too am a disciple of Mclaren(but not his time cycles analysis just yet as looking at another methodology at present).


Just looking at the currencies/US Dollar. From what I see we are approaching a historic pivot in these. The only question is will it start this month or in the first couple of months of next year?? Also between those timeframes what will the magnitude be? I have only looked at time at present and have not considered any vibrations within price harmonics.

Cheers
 

I took a lot from McLaren, I especially liked The Foundations course, it changed my view of the markets quite a bit.

I've no idea about the magnitude of a move following a time vibration, at least not at this stage of knowledge. Been talking about this with Magdoran too but haven't heard from him from quite a while, hope he's ok.
Magnitude is my main area of study since a few months already and for now I am learning to apply EW because I see it as a potential tool to help me gauge the magnitude of the next move. I think is a great complement to time cycles.
 

With 3 hours to opening in America,a turnaround in the S & P 500 and DJIA
as well as the markets in Europe.Any reason as to why?
 
BHP has made an offer for RIO boys,

I think this will stave off a correction short term as the funds and speculators return to the resource sector
 
A severe market correction continues in the financial sector in Europe with Banks continuing to fall by 3% to 6%. It is expected that this downward trend will spread to Asia and the Far East. Concern was expressed by George Soros as to the eventual decline of Chinese Banks with much debt shown on their books as of value, being worthless. Many companies in the financial sector will have to admit and book losses that will in many cases be severe- Australia is not excluded.
 
noirua said:
Many companies in the financial sector will have to admit and book losses that will in many cases be severe- Australia is not excluded.
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Which Australian institutions are directly exposed to the US Sub prime/CDO problems Noirua?
 
After a brief look in green, the Dow soon surcome to gravity and found red with what looks like a little more volume than recently. Be surprised to see it in green in the morning, I think.
 

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Just looking at those dates of Wave and Nick, on the 15/11 we have the PPI in USA and then on the 16/11 we have the CPI figures being released.

With the oil price being high for the past few months it is reasonable to expect that cost to show up in the inflation figures (unless we see some more creative accounting)

If the market doesn't like the figures, that could be the trigger for the moves predicted in the charts.
 

Yes, indeed.

I'm only just starting to study charting the indicies and am very impressed with their analysis. Many thanks to them for sharing it with us.
 
eMark said:
Well the Morgan Stanley news is currently being factored in to todays futures. Where do you get your info re futures? I get mine from cnn.com
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Bloomberg website has a lot of useful info.
http://www.bloomberg.com/markets/stocks/futures.html

Read the time on the right-hand-side of the page to make sure the figures shown are recent. Some figures don't update frequently.

phew! glad I didn't short RIO yesterday!
The BHP bid for RIO will make many think twice before selling mining stocks.
 
Just in case anyone has forgotten the sub-prime ... :axt:
Cheers
.........Kauri

 
Kauri said:
Just in case anyone has forgotten the sub-prime ... :axt:
Cheers
.........Kauri
Click to expand...

Thanks Kauri, I needed that:

I can always rely on you to post sobering newsbites at this time of day.

Cheers

eMark
 
I think the real correction to come will hit the S&P 500 , the chart looks like it has false highs and set up for failure , the last few months have given it a cleavage shape that I don't like at all , as each rally has come to an abrupt stop mimicking the last rise .
 
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