Today I am using Advanced Get (eSignal) to get a watchout for the next one or two weeks. Ok, what we see?
SP500 Elliot Wave Analysis 16. May 2009
On the 8th of May we had a high (930) and this high was the end of the Elliot Wave 3. A strong “Make or Break” line (the big blue barrier) showed me long before this point was reached that it could be important to watch this price level. But where the price will go now? Some forecasts for the end of Wave 4:
First Support Level: 865-875
Second Support Level: 830-845
Third Support Level: 805-815
I personaly think that the price will reach only the first support level, because the uptrend is still OK. Watch the trend lines, there is no critical break out. And if the price stays inside the lines the SP 500 is still bullish.
SP 500 Webotron Stocks Chart 05.16.2009
And what says the Webotron Stocks chart.
- The automatic trend detection shows us a trendless phase (no red or blue area) and the 2 last candles are small and have small bodies. Two indications of perplexity. Currently nobody knows the direction.
- A trendline is holding the price and a support line (870) is waiting to catch the price if it will lose control.
- And the best of all, the SP 500 is oversold (blue points).
My forecasting: Next resistance at 930 and the next target will be 975-985. BTW this level could also be the end of wave 5 and the beginning of a downtrend.
The next week (or the week after next) I am hopeful to go LONG. (probability: >85% )
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Keep in mind: “There is risk of loss in all trading!”
Please mention that your current webotron software now has ads and unloads a malware in the temp folder location ….\Local Settings\Temp\TempFolder.aaa\xtras\WebXtra.x32.
Compared to previous versions, tt is sad to see good software go rogue…
Hi John,
thank you for your comment.
No WebXtra.x32 could not be a Virus, Malware or Spyware. WebXtra is a piece of software I bought at “http://xtras.tabuleiro.com/products/web/” which adds the capabilities of a webbrowser to my software. And this webbrowser displays the banners at the bottom.
I know the company Tabuleiro for years and i do not believe that they are such criminal to sell Malware to the people. That’s absolutally not their business. Tabuleiro is a honest company.
But I get in touch with their support team to get some answers.
Update: Upload the WebXtra file at “http://www.virustotal.com/” they will check the file instantly with 11 virus scanners.
The WebXtra people wrote me that the Virus Scanner AVAST has problems with it. But they don’t know why.