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Thanks ed. Nice to see you and Mu back:)

Thanks for the questioning. But in fact, you may draw several trend lines on one chart at the same time_ just like we are looking at several Elliott Wave alternatives for a given chart, to make your observation and trading decisions. By definition, the trend line that only connects 2 high...

The aggressive 5-wave down today and the trend line resistance on the daily chart lead me to suspect that the last 4 days’ rally is over and SPX may be heading towards 805 or lower in the next few days.

That was a good one Mup. I like the Forex stuff and hope more posts will be on that market as well.

The breakout is from a relatively loose pattern. So we'll be treating it a bit more carefully. Gung hay fat choy:)

Thanks Ed, Mu. I'm a newbie in EW and learning from the textbooks and more importantly I'm learning from you guys here. SPX seems to be breaking out from the triangle/consolidation this morning. Oil is also moving up. Sorry to learn that Mu may be absent for 4 days. Hope everything is...

Today I followed the textbook rules and labeled the SPX daily chart myself. Then I found out your labeling on Jan. 3 is exactly the same as mine (from March 08 on), except the last B labeling is different due to the recent price movements. :D Let’s see if this alternative is good or not.

TBT seems to be forming a clean EW :cool:, waiting for wave-4 entry point...

Ed, why not just use bigcharts.com?

That was a very nice early warning too :) BTW, what time zone does your SPX chart use? It appears 5 hours earlier than the Eastern Time. Our post time on this web site is also about 4 hours earlier than the Eastern Time. Are you Europeans trading our S&P? :D

I suspect so. But I wonder what's the purpose of the systematic "fraud", and how those guys achieve their goal though.

Thanks Mu. Will look at the chart with that.

Hi Mu, Thanks a lot for answering both of my posts. On the Euro daily chart, you said: If wave a had five subwaves, wave b may be incomplete. Could you tell me what "wave b may be incomplete" means, when you have a chance? Thanks. Eddie

I did another Euro forex daily chart, and also hope to have your comments. According to my labeling, wave 3 on the chart is a very long one, wave 5 is a very short one (wave five failure) and now the price is moving in abc waves. Could someone give me your opinion on my labeling? I hope...

Hi guys, I have been lurking and learning. Thanks for your posts. I just labeled the Euro forex chart. Could anyone tell me if my simple 5-wave labeling on the chart is correct? TIA. Another question here: Some EW analysts believe that markets exhibit a useful Elliott wave pattern about...

Stock market and recessions (Chart 2)

Stock market often rises in the middle of a recession. If history is a guide, we might have seen the bottom of SPX, given that the current recession won't last more than 2 years (the current recession started from Dec.2007, already longer than average). Here's a related chart

Thanks Mu. I was just trying to compare my conventional TA with your sell signals.

Hi Mu, Were the sell signals on your chart generated by a computer EW program? Thanks.

The SPX just broke an intraday Double Bottom 3 minutes ago (from the conventional TA view). Will look at it from the EW angle :)