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Got there :D Looks like it clearly wants lower so next is the 61.8 @ 851 ...below that we can step up a degree from b to the wave v and we should get the sharp final move to new lows...

On the day session chart, the more aggressive count could say that the iv is already complete... If the price goes below the 850 area than the odds move greatly into the more aggressive count.. 60min ES

Looking better :) 38.2% is the 867 area and the 50% which would be better is at 859.....

Keen bulls with bit of short covering are making a last stand at -23 ALT at 871 It would be a more unsual EW pattern if it holds but one never rules out anything... Delta hints at the b wave count though... Edit elo already posted it :)

Thats the one... If that ALT lets go we can rule out the triangle pattern hence the EW traders will go fully into "b" wave mode so the move will get sharper... If it holds they will all jump back aboard the triangle option for one last pop up... We just go with the traffic lights... with...

Reached the first target :) And as elo points out they maybe a bar swing point going into it Needs to correct more than the last Alt of -18.5 to confirm were in the b.... If 880 gets busted then the odds go firmly move into the b wave count, but conversely if it holds then 1 more pop...

Handy that EW :D Kept us on the right side of market direction this morning..... (hinted at last night) We need 3 waves to make up a iv (a-b-c) 889 area is the 38.2% (globex) that could be good eyeball for an "a" wave... Update

Good stuff Mu, would fit with the Cycle degree "C" wave for those markets... ------------------------------------------------------------------------ For the shorter term on the Futs... :) Futures seem to be hinting at the wave iv for the cash market.. 120min Globex :)

We could well get strenght tomorrow elo, if were in that larger ED on the SPX as a wave iv. I'll dig the chart up from a few pages back.. http://www.elitetrader.com/vb/attachment.php?s=&postid=2141856

Busy weeked indeed :eek: :) Enjoy the Guinness Mike ! :D

Thats the one elo...:) Once that -14.5 got overbalanced its saying we've changed wave set degree... They always get one last chance to have another go by "stepping up" the degree , but if it fails to get above the last wave set swing ....Then it gets hit and they will throw in the towel...

Overbalanced so last chance for the bulls is that we've "stepped" a degree... If it goes below that 874 means they've thrown in the towel... and the count is wrong on the chart.. 5min ES

As long as it holds (close above) it -14.5 Alts its can still go for that 1:1 target... If it overbalances it then tells us things are changing.. and watch out below ... nice and simple traffic light rules :)

Just need it to show its hand on with the ED wave degree .. the simple 1:1 @ 808 would be nice

Well its popped them 906 is the 1:1

If its a w-x-y it needs 3 waves in each set.. If it goes below that 865 then things change...

That 78.6% 882 could be a problem for the bulls If it carn't clear it ( close it out) it sets up the 1:1 to the downside 5min ES ---------------------------------------------------------- EDIt should say it Needs to go below 865 to confirm this option

Thanks Mike :) The lunar cycles one of the reasons I like the end of Oct / Start of Nov as a key time pressure date alson with a whole host of Fibs Larry Pesavento likes that lunar date :D

Couldn't bust the 1:1 on a close out... If it can clears the 875.25 then the High of the Day stops look tempting... 5min ES

Needs to bust that 1:1 at 858 inorder to really get the bears excited & they'll see the 1,2 count elo highlights.. :) Otherwise we still can't rule out one more wave up... as part of an a-b-c Bothers me a little that CNBC and Bloomy keep going on about the expected afternoon sell off...