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Thanks Mu ! The market wrong foots us all the time ( as a good number of my posts show :) .. esspecally when were in some form of correcitve mess. Pretcher sums up things well on the problems with corrective patterns ... Bob Prechter: There is one main weakness, and this accounts for...

Half way there :D

Yes the "bots" get set at certain Trading Premium Values to kick in at... There is a lot of info on that index arb site http://www.indexarb.com/index.html

As in index arb elo ? Used to keep an eye on Prem/Eprem + OEX but not as much these days since alot of the big "Boxes" have gone bang.. ------------------------------------------------------------------------- looks like the HOD stops and the the 1:1 looks more tempting ...up at 874.5...

Could be a fun last half hour for the bears if it stays below that 88.6 % @ 861.75 (ES) If it does get above then the bulls can push for the 1:1 @ 874.5... so fun for either side :D Nice line in the sand...

Another good bounce call Mike :) Feels like an "e" wave of an annoying flagging pattern...?? e waves can stall out at any of the higher fibs (78.6-88.6-94.1) ..just have to watch out around these just incase 30min ES

I'll be changing outlook as well if that 1:1 into a 61.8% @ 866 (ES) area gets busted... While its below , I'm still on the bear bus (or ship) :D 120min Globex

As usual I'm also on the bear bus ed , looking for a (C) wave :) ) EDIT just a spike below that 837 ALT ... makes the pattern a 3 wave structure with overlap though going into that 1:1 & 50% area 60 min es

Looks like the same double down play from the other week... The ones who bought into yesterdays low are doubling down hoping for a runner.. Last time it happened they got a morning gap play before it was chocks away to the down side...

Charts seems to agree with Cutten we need to take out the 1983 lows on cable/ dollar @ 1.03.... 0.89 looks a nice eyball target.

Yes morphing into a flat is always an option for time wasting.... Gap- Close & New low would be nice though..... Just a question of when :)

Handy this thread :D We had the pattern mapped out before it happened and we even got the time it would turn (nice elo) :D Well done Chaps :D

Got to its target Zone :) ) Its done a 41.4% retrace ( a gann root 2 ratio) so it could well get a mark down from here... below 834 will confim...

(b) wave move i'm after into the usaul suspects... T1 842(1:1) T2 846 (38.2) T3 855 (50) 240min Globex

you can bet your bottom dollar, (errr, euro) that it would be below parity.......

Enjoyed today :D Well done chaps on the posts today !

Got there :) 799 61.8%

Handy that EW :D 818area (50%) would be a nice eyball target .

Another get call :D Well done Mu it only just dawned on me that where past 800 :eek: :)

Cracking day for the bears :) ed had the bias nailed this morning :) http://www.elitetrader.com/vb/attachment.php?s=&postid=2200725 Still one more leg lower for the 5th wave once this 4th has finished it mischiefs....? 120min Globex