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Landis, Thanks for the link :) Mu, Even if the other blog posts realtime, I'd still prefer the camaradie here! A quarter million? Wow! Imagine if you charged a dollar per view.... :D

At the open, (1) if the SPX cannot clear above 874.85, then odds favor one more leg down. Above that, then see (2). (2) if the SPX moves above 878.50, then chances are that the upmove is resuming. (3) of course, Mr Market can get emotional and just decide to move around...

Here's an updated chart of the SPX weekly I drew a little while ago. The a-b-c corrective upmove seems complete. This current downmove is so "lethargic" I think it could be part of a larger "B" wave drop before another "C" wave up. The picture should get clearer after Mr Obama's...

It does seem like a completed 5 waves down to me. According to Mupster's dictionary, the largest ALT was 5.55, so the first target would be 918.35. Above that, would be looking for some resistance at 927.47. Odds favor upside if this is broken. SPX 15min :)

Mu and Landis What an excellent "itch" you both had! :D Great timing! :)

Possible ED if the lines hold..... :) SPX 30min Edit: Line broken.... will have to see how it morphs out. It could turn out into an even larger ED pattern :D

Thanks Felix :) Well, the SPX did close above 918.85. Actually it hit about 50% of the a-wave @ 934.73 before falling back.... :) The odds for a continued upmove remains pretty high. Here's an updated SPX weekly chart with some possible c-wave targets to lookout for : 0.500 934.69...

Seems like the b-wave is done. Could the c-wave up have started? Above 918.85 would be more likely to be the c-wave, else the SPX is still stuck in a possible b-wave. :)

Hi bathrobe, Happy New Year and welcome to Mu's thread. I have been hand-counting for a while and have also enjoyed software counts posted graciously by elovemer in this thread. I don't think I can rule out either count nor state which is superior. The most important thing about EW...

Hi guys! Merry Christmas to you and your loved ones! The SPX weekly still seems to be time-wasting somewhere in wave (4).... Great excuse for me to drink and be merry..... :D :D (Cheers to Landis' Guinness and Mup's Mount Gay Special Reserve....):) Hi Blnbr, Welcome...

Mu, Landis, Elo and Mup Glad to see you guys have been on a roll the past few days! :) Was thinking it's a good time for me to take a short break since I could not commit at what stage of wave (4) or 5 we're in now. Would be popping in once a while though.... :) SPX weekly

Whoever took Mu's advice would have done very well today! Very good call Mu!:)

I'm here as usual, just that the volatility is messing up all my charts...:( Been trying to figure out the counts with the charts darting everywhere.... Edit: It does seem to have the "feel" of a wave 3 down right now.... Need to break the low today.... :)

Good one Mu. It is a very significant bounce indeed! :) I share the same outlook that this bounce could be a wave 2 up.

Would a roll-back to the TWS previous version help? :)

1:1 target for the SPX 60min :) Edit: If we cannot clear yesterday's low near the close, then we could be possibly stuck in a wave 4.....

Very well done Mup! Thanks! :) All the upward channel lines have been broken for SPX, INDU, SPY.... Finally, a sigh of relief :D By the way, what is "NFP report"?

Mup, If it does become a Y pattern, would our larger outlook of a ED 5th change? Thanks :)

Oops! Thanks for the reminder.... forgot the traffic lights.... was jaywalking again.... :D

Thanks Mup! It is so enjoyable because I can learn from you and Mu and Elo and Landis! Thanks guys! Here's my thoughts on the possible "c" wave (or 3rd) down target :) 1:1 --> 792.56 1:1.618 --> 742.77 SPX 60min