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Next degree MM's on the SPX are around the 1467 & 1465 with a 50% just below. :)

As Mu point out Key area this 1483.5 MM* on the ES Needs to hold for the Bulls and Break for the Bears :) *a bar could "shadow" to the gap but the bulls need a bar close above the 1483.5 other wise the bears will drive it down.

120 ES scribble... Any thoughts that yesterdays move down was a C wave ?? (c would also = 300% ext of a) I'm sure most will be labling the move down of the FED as an A wave, but we like to think a little outside the box on this EW thread ..:)

We know now that the Wave into the FED was a C wave as its an ED. So we can bin the 1,2 counts. :) Bulls Still have the higher ED to latch on to, and the bears have a few counts to ponder over be it, tiangles X's or B's on the higher daily/ weekly frame:) 15min ES that shows the ED C...

Thanks Mu :D Mup's ED wave 5 could still be alive with this pattern being some sort of a-b-c X wave :eek: :)

Rob how about a short placed around the 1522*Dec cont/ 1532 March cont area. It will give far more breathing space than the lesser degree wave 4 low. If the market wants to go into some short of Extention wave, then a spike down to just below the Lesser wave 4 to take out everyones...

elovemer ED lesser wave 5 (v on the chart) going into the FED would be nice... 60min Spx

60min SPX scribble.

While its quiet a big picture look of the Dow since 1982. This final phase could be part of an ED wave V or some sort of X wave.

A quick doodle on the INDU. The Bear case for a FED sell off. (see last chart for bull case) Just Finishing off either a X-X or a D wave. Then its down to new lows in a Z wave of a Triple 3 or an E wave of a Triangle.

Thats some interesting use of wave numbers on that SPX chart elovemer.... :eek: :D Oh wheat also had a 38.2 at that recent low...:)

Hi Rob For proportion I'm just labeling that corrective move from Nov 30th to Dec 4th as either a wave 2 or B. For the Bears, your Scenario 1 looks fine. As for the Bulls, I would lable this move 1,2 i, as the start extended wave 3 move. see chart below :)

MM pressure point @ 1504 ES If we get through that then its implusing

Next TA point the Measured move

Last chance saloon for the sell....

Closer look at the 5 min Possable 5 waves up into 1496, the players will always try a break back sell in anticipation of an H&S pattern with a S&R 6-8 ticks above the 50% in case it morphs into an ED pattern.

:) Key area the 1496-1497 on the ES its the larger 50% Exp flat is still valid so we need a C wave if its in that count. The count becomes incorrect above the 123.6% @1500.

On a side note AAPL looks interesting @ that 189 to 190 area if your a 1-2 day swing player ..

Update on Yesterdays 5 min ES chart.. The waves are all made up of 3's So the C also needs 3 waves hence this last push up... Oh and we reached the 200 page mark on the thread! Well done Mu for starting it off and putting the effort in to get to 200 pages !:)

Hope you've had fun on Wheat elovemer :) I'm still on that 60min SPX chart count that shows the market removing supply around that 50% level before we can go higher..