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Given the very strong run-up since Friday, I would prefer to see a deeper retracement before it goes up any further. :) So, here's another curveball bearish option --> a Flat? Of course, ultimately, it is up to Mr Market to decide where he wants to go, however and whenever.... :)

Or it could be a diagonal b wave instead? :) Edit : Nope... Way too strong for that! :mad:

Thanks Mup!

Need to clear the 1:1 possible resistance @ 829.91 to ensure it continues its way down... :) Edit : 0.786 @ 835.86 0.886 @ 833.08 1.000 @ 829.91 :)

In the SPX 15min charts, it seems like there is going to be a final pop above 870+ before it starts its descent.... :) SPX 15min

Since the bullish outlook has been pretty well covered, I'll throw a :eek: curveball:eek: with a bearish alternative...... :D Based on the ed ii ALT of 162.24, ed iv has up to 903.26 to run. Anything above that would be bullish.... :) SPX Daily:eek:

Mr Bush is speaking to reporters about 10.35am ET. Let's see what he has to say.... :) Edit : Obama consulted on CitiGroup rescue

Based on the last ALTs, the targets for SPX and INDU are 839.21 and 8406.35. Once the numbers are exceeded, then the odds tilt to the upside.... :D Edit: So far the volume for the above indexes are very low.... Thanks Mup!

spy 15min

Not sure if my charts are playing a prank on me, but it does seem like both the SPX and SPY 15min charts are showing semblance of a 3-3-5 flat with us being in the c wave now... Anybody seeing this? :confused:

The last ALT for the SPX 10min chart yesterday was about : 820.52 - 776.76 = 43.76 So, this upmove in the SPX today has to clear : 741.43 + 43.76 = 785.19 before it starts to turn bullish? Mup, is this correct? :D Sorry realtime charts haywire...

Elo, You're perfectly right!!!! :D That is the most special part about this thread! :eek:

Mu, Thanks for sharing both the bull and bear cases! :)

With the e mini Dow, Nasdaq and S&P futures all up about 4% (~6am EST), I think it is a good time to re-visit this updated ED picture..... :) The ED v low would tie in pretty close with Mup's 726 and Landis' 732 as well.... :D SPX Daily

Mup, Good call on the ES 775! :D My charts are a mess, but it seems like the ED iv is taking shape with this upmove now.... :)

The ED iii looks complete in both the INDU and the SPX daily charts. An ED iv strong upmove tomorrow will confirm the ED. Would be a testing bull trap for many when ED v strikes...... :D

ED or just a bounce.... I've had a nice ride up and exited.... :D (I'm more concerned about dropping my Internet connection than the bounce heading south again.... :D:D:D)

Mup, Please let me borrow your lines..... :D "See what you think....." :D SPX daily

Elo, I think there may be another low first, but we should be near the bottom for the SPX..... :) I'm thinking of referencing Wave1 for some ratios to gauge Wave5 : Wave 1of3 (SPX) = 1440.24 - 1200.44 = 239.80 Wave 5 target : 0.786 --> 819.03 0.886 --> 795.05 1.000 --> 767.71 :)

You are amazing Mup! Really glad to have you here :) Thanks! :) My internet access is unstable... will be on the sidelines again.... :(