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....could have been a ED on the SPX 3min chart just before 3pm ET.....:D Got to see if it holds and explodes higher....

Mu, Elo and Mup, You've all made great calls these 2 days!:) Here's a curveball scenario I'll add....... just in case..... :D SPX 120min...

Mup, Not referring to any specific ones, but in general.....:) Also, I noticed some of us have been talking about the ES whereas I've been looking at the SPX / SPY..... could be some confusion there.... In any case, I thought it looks like a triangle forming in the 60min SPY chart I...

Mup, I thought in a ABCDE triangle, that the C wave would usually be 0.618 of the A wave and not the B wave?:confused: :) In any case, the drop on market open seems like a bear trap to me with the very thin volume. I am expecting a little more upmove till about 99.81 in the SPY....:)

Could very well be Landis....:D But whatever the case, I'm sure we all had a good ride down since 2pm ET.....:D :D :D So an early close for me today! Have a great weekend ahead guys!:)

If it is a 5 waves up in the SPX 15min, then we could be in a extended 5th wave now....:)

Elo, I believe there is still room for more downside, but I just cannot fit in any satisfying count in the hourly or daily chart...:( And given the extreme volatility, I am focusing on very short-term intraday movements.... I thoroughly enjoyed the ride down and up this morning.....:D

I have learnt to stay out of the market during such times.....:D

Mu, It doesn't seem to qualify as 5 waves up in the SPX 60min candlestick chart: w1 = 933.86 - 844.05 = 89.81 w3 = 965.22 - 892.56 = 72.66 w5 = 1043.95 - 950.96 = 92.99 w5 > w1 > w3 So I'm thinking the drop could be a bear trap... :eek: The downmove seems so "reluctant", unlike...

The SPX feels like it is in some sort of a b wave..... could be flat forming now (11.57am ET)?

Seems like it morphed into a full 5-waves up instead of an ABC. If it is so, then we should be seeing some correction tomorrow. Maximum I am looking at should be about 1021.06 for the SPX, which is the previous wave4 high. Count invalid if upmove it exceeds 1024.25 tomorrow...:)

Thanks Mu, I'm waiting for a similar target for the SPX of about 985.04.....:D

Anyone seeing a potential flat forming?:D

Yesterday's low in the SPX broken..... We could be looking at a series of wave4 and wave5 of different degrees here for a while. The next level of support I'm looking at is about 960-961 on the SPX.... and thereafter about 923-925....

I'm still not entirely committed as to whether the Oct'07 top is a Wave IV or Wave V, but now I get the point about the 2012/4 time frame. Thank again Mup!:) .....will be away from my desk most of the time... but will pop in for a quick look once a while....:D

Actually I don't know whether to smile or to frown :( :confused: ...... but I am glad I had to step away from my desk 2 hours before the close yesterday..... :) :) YM Futures was down 300+ then up 170+ then now down 230+ again......:confused: Next SPX support I'm looking at is...

... possible ED c wave on SPX 3 min? :D ..old habits die hard..... :D :D :D

Great call Elo! You've nailed it this time.... the FED is going to buy commercial paper.....:)

Mup, After your reference to Gannglobal website on the measured moves, I am beginning to understand and appreciate such posts much better! Thanks Mup!:)

Elo, Thanks for making this call! I think it should be clear that whoever decides to act on this call would have to responsible for themselves..... else they'll need to read page 1 of this thread again...... :D