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It bothers me a little that it couldn't bust the 865 swing low.. The triangle e wave has been well covered http://www.elitetrader.com/vb/attachment.php?s=&postid=2139093 But I throw this curve ball in as ed likes to say... :D 120min SPX

Bears will be looking for a 5th wave.... I'm more in the bear camp untill it proves that the popular triangle is the correct option....(by holding the 872.5 low) The 240min Globex

933 area is the 1:1 to the upside on the Globex if we get the an "e"wave This is that popular traingle e wave count.....

Yes everybody does a great job to make Mu's thread the best on ET... ! :) Good stuff on the longer term charts there Mu :cool:

Hi W4rl0ck It does seem we have completed a cycle degree wave set from the 1932 lows. The lesser bearish option is were in a cycle wave IV with the move from the 1932 lows the wave III. http://www.elitetrader.com/vb/attachment.php?s=&postid=2105272...

Yes the fibs and wave structure would of cought the eye of the Elliott Wave techical based traders on the 61.8% :D

Thanks ed I appreachiate the kind words :) It nice when the patterns play out.....

That 240 Globex chart from last night update... http://www.elitetrader.com/vb/attachment.php?s=&postid=2135460

looking better :D That 1:1 count option

Hi TT1 The triangle counters will indeed be keeping a very close eye on those two ratio's...

Thanks ed :D

Agree Mu with 61.8% being hit at 911 on the SPX could very well get some interest from keen bulls As long as any bounce back doesn't exceed the last alt of +30 then the bears are still incontrol on the next degree up and we should go lower.

Thanks elo :) Still would like this to play out rather than the popular triangle count... Delta seems to hint that the price wants to go below the last swing low of that 865...

I'm tempted to do a 1,2 of the 61.8% on the Globex 240min... Looking better this morning :) Needs to get a bit sharper to confirm a 3 , otherwise were still in the corrective mess...

They best start saving in dollars as the pound looks on its way parity of 1:1 over the next few years :( Its at a 5 year low this morning @1.63

Thanks Mike! And they keep telling us the market is not Techincal! its all nonsence... :D Enjoyed today after my week off... I'm tempted to do a 1,2 of the 61.8% on the Globex 240min... Upto Apple to confirm a if we get a wave 3 down or not ..... (The Alt is a w-x-y flat with...

Seems TA traders think the same with "e" waves and 78.6's......:D Anyway needs to move below the d wave low inorder to confirm things have changed degree and rule out one more last spike up... 15min ES

e waves of contracting triangles have a habit of failing at the 78.6% (984 area on the ES) just something to keep an eye out for .

Seems a lot of TA traders were seeing the Triangle option then... http://www.elitetrader.com/vb/attachment.php?s=&postid=2135088

Some will see a possable triangle with that last 61.8% pull back... Not fully convinced myself yet as I'm always a little sceptical of "standard looking" triangles but It helps to be aware what other TA traders will be looking at in case any personal count bias starts to creep in and you can...