SPX: Follow Up of the Short Term EWP

By: TheWaveTrading | Wed, Dec 12, 2012
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Tomorrow morning I will not be able to post an update

My view is that price has not completed yet the Triple Zag off the November lows, instead price has began a pullback wave (B) of the third Zig Zag that should bottom in the range 1416-1410 from where I expect the kick off of the last wave (C) up of (Z). In other word we should have the usual Santa rally into year-end.

If price breaches the pivot support at 1398.23 I will reassess the short-term bullish scenario.

Below I attach the recent comments posted today on Twitter/Stocktwits (in order of posting):

AAPL 15-Minute Chart
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VXX 60-Minute Chart
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SPX 30-Minute Chart
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SPX 5-Minute Chart
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SPX 60-Minute Chart
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TheWaveTrading

Author: TheWaveTrading

TheWaveTrading

Contact: If you would like to contact the author, you can e-mail him at thewavetrading@gmail.com

The main objective of this project is to share my views on several markets and asset classes.

In the initial stage TWT website will be a free service.

My main focus will be the equity market with SPX being the leader but I will also follow US equity sectors, major European indices, fixed income, currencies and commodities markets.

My analysis is based upon traditional Technical Analysis, Elliot Wave guidelines and investor sentiment.

My goal is to establish the most likely path that the price of a particular asset will undertake and profit through ETF instruments both on the long and short side and mainly with leveraged ones (2 x & 3 x).

The advantage of ETF investments is that it allows getting involved in equity indices & sectors, currencies, fixed income, commodities etc.

Therefore the main purpose of TWT will be to establish investment strategies regardless if the market is in an up trend or in a down trend, leveraging the chosen scenario while managing the risk by establishing protective stop losses.

Hence I will always define the risk, I will try to let winners run the wave and I will cut the losses if my strategy is wrong.

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