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Back todays pattern... 854.5 is the ALT so that needs to hold for the Bulls to have a run at the Gap and a new high.... If it carn't hold it then as elo says the bulls are toast...

Last time we had a simular pattern to yesterday afternoon on the Globex was part of an Exp flat, with the momentum break being the "B" wave and the sharp run back higher the final C to complete the pattern..

Well it got there and some more... Very mischievous pattern going into that afternoon low. Its not often you get a triple Momentum (60, 120 & 240) bar break together with an Overbalanced 1:1 with no follow through... Anyway once it got back over that lesser 847 alt it confirmed which side...

Have to watch out for the Black boxes with with BUD going into the close... 859.50 is the next ALT back up...

Yes very mischious pattern... if it gets above 847 area the then the trade below the 1;1 was a stop run... Below that 847.5 ALT then a run down is still on 60min ES

Now throught that less 1:1 open up the next @ 810.50 area 60min ES

Always like a day off now and again :D 3 of 5 on the main stream counts ed..... It all comes down to that Oct high, if it was an irregular top or not... Bears will be seeing this set up down to 777 area on the Globex...

That 1:1 that mike hints at will be key :) If it can hold that the bulls can live for another day, if it carn't then 810 looks the next stop... ES 15min (1:1 @ 828.5)

My SPX 90min lean.. As always, could be counting to fast and were still messing about in the lesser (b)... But for now the (c) wave down looks very viable....

Update before I'm late... If it carn't clear the 38.2% it then sets up a possble larger 1:1 @ 840.5 Hence bears and Gifts...... So bulls really need to clear that 38.2 5min ES

Thanks Mike... It could, if it wants to waste time, a-b-c into that ALT to make a double drive on a 38.2% which the bears would think gift... Early finish for me today as I have a firends Dinner to attend... Catch you all later... :) 5min ES

Did you hear back from that Hedgie Guy Mike ?

Thats the one elo, If it hits a higher degree 50% then a move back to the next lower degree 50% is a good possablity.. Its tied into Ganns “as above so below” thinking. ALts on the 5min ES

Seems to be a few gremlins in ET's software then.... I'm still on windows XP elo :D

I'd like to see the 50% hit at some point as part of the old Gann 50 to 50 rule... :)

Could still get a 5th wave ... If it does hold the retest of the 38.2% and gets back above that 889* level then we just label it as a completed (a) and will get a ride back up for the (b) *This lesser 4 could waste time as a flat so that 889 wave 1 overlap point back up is key 5min ES

Have the mod's been editing the Mu's thread or is there some gremlins with ET's software :) ) ??? I don't remember mine or elo's chart posts being an image dump. They were just the normal click the link to see last night.. ...

Just overbalanced its 1:1 so its impulsing now :) Usual fibs on the way back down to keep an eye on..

I still quite like that SPX 90min ED pattern ed :)

Got the move up and the stall out... :) Its a common pattern after the market hits a higher degree fib... It will hold its Lesser ALT on the first test and try for a new high, only to stall out and head back down for a retest and more often than not , a break.... Pattern steps up a...