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Reverse Head and Shoulders pattern confirmation may be a good buy signal. :)

..done nothing, because the Markets do nothing. Same analysis, same strategy.

The Market is not content with 70, 7, 14 points retracement. Another small down wave will lead the 180, 18, 36 points retracement which should be enough, else wave .i may be invaded.

"W" pattern in the U.S. economy confirmed. :D Weak dollar boosting U.S. profits The falling greenback has helped multinationals buck a slowing American economy. http://money.cnn.com/2008/04/19/news/companies/dollar_earnings.ap/index.htm

INDU, S&P, NASDAQ and TRAN charts look like confirmed Reverse Head and Shoulders patterns. Target may be as followed. April 18th, 2008 4)c.5= 11731.5996, 1256.98, 2155.4199 :1= 12733.6602, 1386.74, 2391.9299 :2= 12270.79, 1324.35, 2266.29 :3?= 13272.8506, 1454.11, 2502.8 .i=...

Sold at the hesitation and elovemer's ED after the "M" pattern confirmation and bought back at -70, -7, -14 points at the "W" pattern confirmation. The Market is too strong for a short position.

elovemer Thanks for the detail volume analysis. Mu. Higher volume means continue of trend. Lower volume foretells the change in trend. So wave 3 is usually the wave with greatest volume, when wave 5 comes with a lower volume we know that a retracement will follow. If wave 5 comes with...

All three indices hesitate at resistance levels. NASDAQ has reach 70 points target. INDU and S&P fall short of the 350 and 35 points by 80 and 5 points. Wave .iv may have begun and may be 70, 7, 14 points long or may end at wave :iv of a lesser degree. Wave .v may be 300, 35, 80 points long...

Thanks, Mup. Mu. By MarketWatch Last update: 12:33 p.m. EDT April 18, 2008Print E-mail RSS ANNANDALE, Va. (MarketWatch) -- The Dow Theory appears poised to go on a buy signal as of Friday's close. All that's needed for that to happen is for the Dow Jones Industrial Average ($INDU:Dow...

New High! :) Off we go to the final target. :D

Base on the strong actions in the futures we may have to extend the target from +200, +20, +40 points to +350, +35, +70 points before taking a short position.

Status: Took profit at the, last Thursday (10th) high, resistance when there was a lower low. Re-enter after a -100, -10, -20 points retracement as said when there were small "w" and big "W" pattern confirmations. Strategy: Hold the long positions to the target measured move, since the last :i...

Sometimes there is one more wave :v. :( Wave .i:v may end today and the wave .ii, running correction, irregular correction, zigzag correction, has just ended too. :) Wave .iii may come next. :D

Overlapping waves do not bode well for the bullish case over the near-term, except for a running correction. :( An ED at the resistance level is gaining ground. :mad:

Oh! yes. :) New high as expected. :D Measured move is coming soon. :cool:

Should rebound soon, a measured move now, else Mup's alternative Bear count will come into play.

A new high will confirm the measured move projection, as subwave :i of wave .iii.

Status: Still hold long positions. Strategy: Take profit on the ST long position at the resistance when there is a lower low. Re-enter after a 100, 10, 20 points retracement, allow for + or - 30% error. Consider ST short position near measured move when there is a lower low. Cover short...

elovemer, This link may answer your question. :) Bulkowski's Big W http://thepatternsite.com/bigw.html Mu.

Will resistance turn into support. :confused: Edit. Update chart.