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Mup, Could we then have counted too fast? ED iv could still be in the works? SPX 30min

I think there is one more final leg down.... the final c wave of the entire ED.... I'm looking at the INDU 15min chart.... My target for the SPX is about 853-855.... :D

ED of an ED? Does it happen? We'll find out soon...... :D

:eek: :eek: :eek: How many times did you read that book?!?! :eek: :eek: :eek:

Time to revisit this "flat" option? I think the triangle count (since Oct 10th) is now less likely.... :) Let's see if SPX holds at 850, and if it does, to lookout for a W1 up.... :D

While I prefer the bearish outlook, I am a little unsettled by the 5 waves up in the SPX 10min since about 12.30pm ET yesterday. There could be a "C" wave to complete the upmove before resuming its downtrend.... A triangle count since Oct 10th could still be viable as the "D" wave...

You anticipated these moves very well Mu. Good call!:)

Thanks Mup! You were absolutely right about the ED driving the indicators crazy!!! :D

Sorry Elo, I mistook your genuine answer as one tinged with sarcasm.... Sorry:( Edit: Hey! The market's breaking out of its range now...

I find the downmove after 10am ET pretty strange.... seems to have some kind of strong support, or is a ED wave5 taking shape? SPX 10min

Come'on Elo, give that guy a break.... :D Derrick, Welcome to Mu's thread. :) I think you've got to do some reading to find the answer to your question. An interesting introduction to EW can be found at the below link : http://en.wikipedia.org/wiki/Elliott_wave_principle

Mup, It seems like the SPX is heading straight for your 884.5 target as well....

There is a branch off EW called EW fractals and they can spot a lot of such similarities..... :) Take a look at : http://www.elliottfractals.com/ http://www.tradingfives.com/articles/elliott-wave-fractals.html http://www.elliottfractals.net/

...curveball? Bull trap? Time wasting? :D spy 30min

:D :D :D :D :D

There may be a chance the SPX may revisit the 2pm ET high of 926.72 just before the close today.... And that will setup for a gap down tomorrow.... :D

Volume still looks absent to me..... How does it look to you so far?

After weighing a few options, I still favor this flat wave4 count. So right now, we could be in the middle of the "B" wave down before a "C" wave up to 1044.31. SPX 120min chart

Somehow I just get the feeling that Monday's going to be another huge down day..... Well, let's all enjoy our weekends and think through our counts for next week! :)

.....and to start the Guinness? :D:D:D Edit: Would be really nice if we could all meet up for a drink together...... :)