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What do you guys think about the 5 waves down this morning? Could they have been wave 1 of 5 to put in a new low? Could wave 2 be a triangle? That would fit with the idea that the bottom produces a sharp wave 4 (lots of short covering, V type bottm).

Elove, did you get a short in on the bounce?

Anybody getting short S&P at this level?

Close out? I'm short silver :cool:

Gold and silver seem to be starting impulsive moves to the downside.

Have any of you guys ever tried Glen Neeley's NeoWave service or read his book? Any of it worthwhile?

Mup, I like to hold positions for a couple of days to a couple of weeks using the daily chart as my big picture and entering on a shorter time frame chart (45-90min)

I wondered if anyone else saw that ; )

Ed, which way are you leaning? A flat and currently in wave B or the beginning of wave 5 down? If you are leaning towards the flat, what price action would negate that theory? Would you be looking for lots of support at 735.46? And most importantly, how could we trade this? If we...

What are the chances this could turn into a multiple flat pattern versus mup's bearish C wave 1,2,3,4,5 impulse? Mups - http://www.elitetrader.com/vb/attachment.php?s=&postid=2303334 Sorry for the poor quality attachment. MS Paint is a PITA and I'm still learning it.

Mup, thanks. You are right about the triangle. It was a little early this morning, couldn't sleep. Question, are you leaning more towards the Jan 5 high as being a 4 or an A? (see attached) I figured it was a 4 just because of the symmetry from the wave 2 correction. If it was only an...

I'm pretty new at wave counts. What do you guys think of these two ideas. There are two alternates on this chart, one is in yellow, and one is in red in the attachment 'currentview'. Any holes in these counts? Do they violate any Elliott rules? Maybe my shorter time frame 'after...

Chart for last idea. Have a nice weekend.

Well, it looks like the last minute and after hours action negated that theory. Maybe an a,b,c, down to retrace 68% of yesterdays move and form a B. Measured move up in 5 waves for a C coming up?

Looks like a B wave triangle. Waiting for a measured move equal to yesterdays before continuing down.

It works. Thanks guys. Bit of a process though. : )

test attachment

Ammo, I don't think so. What is disquis?

Thanks, I'll look for it.

No TOS. Schwab.