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We got back to that key 88.6% as mentioned before..(elo, hightlighted it , I think with the red lines on his chart?) This is the frist pressure point it could turn, the other is the 61.8% @ 1236.5 (ES) just above the DT.. 88.6% is not that well know and could catch a few out a move down from...

Its the "form" of the "a" wave & where we are in the over all structure of the wave set, as ED's can on be a wave 5* or a C. *Elliott did even say they from in wave 3's but I don't use that gray area...:D

If people just focused on that one Elliott pattern alone they would make a lot of $$$ :) They crop up everywhere.Look what happend to NVDA , for a great example posted earlier on the Thread.. OIH and the Euro are other more resent exaples :) People have seen how many times they crop up...

I bet most well be seeing the 1:1 b wave set up...around the 1230 area The 88.6% just above around 1233 just incase they want the stops would also be something to watch.. 5min ES

15min ES :)

Agree QuangViet on the lower frames not being implusive enough..Hence my triple bias..:) I see an ED on the SPX sg.. Update from yesterdays 60min... http://www.elitetrader.com/vb/attachment.php?s=&postid=1995059

Elliott wrote in the Wave Principle : .... wave four Should Not carry as low a level as is attained by wave two....wave four rarely cancels all of the ground gained by wave three Also in Nature's Law Elliott again wrote: Note that wave 4 overlapped wave 1, which it should not do The...

Could morph into a w-x-y :) just been easier to keep it on a simple 1,2,3...

Thats a bold call QuangViet .... Still carn't rule out its morphing into a larger ED going into OE... 60min SPX :)

Thanks sg :) Pleased you find some of the waffling useful :D Agree with Mu in a 3rd wave but of a C :)

ES has gone 1:1 so it could very well provide a temp rest bite... Early finish for me today :)

I see QuangViet has got the ED option as well :) Some ratio's of a lesser Measured Move on the SPX just incase were on the triple count..:) 60min

Handy this EW :D :D Its keeped us on the right side of the market and had the today pattern mapped out from Friday ...:)

Just gone 1:1 with its last Alt of -22.75... Might give some slight temp support....If/when it breaks then new lows are odds on... 120min Globex

Update of that friday 5min Chart... Got the bounce back up...now lets see if we get the move back down :)

What the bears will be looking torwards... Incorrect above that last swing high of 1258.5.. 15min ES

AS Freddy points out, could very well be a gift for the Bears as long as were below the last Alt @ 1268... 120Min Globex

60min SPX with my favoured triple count on so people can see what I mean when I said move down in a C wave.. As Mike said on another Thread its been a great trading day...:D

Forgot the chart 5min ES

:D Yes He's moved it to its 61.8% Anything much above that then well have to reconsider the count going into the low... While its bleow the 61.8% we can still get a wave 3...(or C wave if your counting the Z way)