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Five waves UP from just above Wave 3)1 :) . This may be the beginning of Wave 3)5 which can go above 930 :D Note the "W" pattern confirmation.

Fifth wave of fifth wave :) . 875 still holds. There may be another five waves UP after some correction :D .

Crude Oil UP, futures turn positive :eek: . Energy Price Change High Low Settle Last Update † Light Crude (NYM) June 09 ($US per bbl.) 56.93 +0.59 56.93 56.93 56.34 5/18 5:48am May 18 5:41am † Change %Change Level Dow +38.00 +0.46% 8,305.00 NASDAQ +7.25 +0.54% 1,361.50...

There may be a measured move DOWN to 875 or below :D . Futures DOWN May 17 10:07pm † Change %Change Level Dow -57.00 -0.69% 8,210.00 NASDAQ -9.50 -0.70% 1,344.75 S&P -7.30 -0.83% 875.70 Asia Pacific & Australia DOWN Index Change %Change Level Last Update * Australia...

Crest in Equity Put/Call Ratio = Trough in SPX . Trough in Equity Put/Call Ratio = Crest in SPX . Equity Put/Call Ratio touched -1 SD and rose :) . If Equity Put/Call Ratio continue to rise from now SPX will fall :D . Note: The S&P 500 posts its worst earnings decline on record...

After 50 points of correction, 80% - 50% of expected correction of 60 - 100 points, there are a lot of supports at 876 :) . There may be a rebound of 19 points before another DOWN move or NO DOWN move :confused: .

New lows in Crude Oil and SPX :) . Measured move targets = 868 and $55 :D .

"M" pattern confirmed :) . Yesterday's low may be retested :D .

Landis' SPX and Crude Oil parallel movement :D .

Crude Oil Head and Shoulders pattern, target = $54

UP or DOWN :confused: . 1-2-3-4-5 versus reverse Head and Shoulders.

Crude Oil shows 5-3 pattern: There may be a measured move UP to $60, or a measured move DOWN to below $56 :confused: .

Reverse Head and Shoulders pattern :eek: . If confirmed next resistance will be 914 :D .

There may be some resistance at 896 and 914.

Crude rebound may meet resistance around $58.

Thanks Illum Follow up the "M" :) . At measured move and supporting trendline although the count is not quite complete. mu.

The correction is 47 points deep now, but the count is not quite complete. There may be some more DOWN move before a significant rebount.

I have 3 alternative counts :) : 1. Wave 1)-2)-3)1-3)2-3)3-3)4. This count is voided when SPX falls below 875. 2. Wave 1)-2)-3)-4). This count is voided when SPX falls below 832. 3. Wave IVc]4)a-b-c and we are in Wave IVc]5)

Is this the beginning of the end of this Crude Oil rally :confused: . Note the completed "M" pattern and the bigger incompleted "M" pattern.

The "M" pattern is quite completed :cool: . There may be a rebound from one of the supports; the lower border of trend channel, support levels, measured move.