Current Elliot Wave Location

Just bot an August 1470 ES call for 17.25. I think ESU7 just finished an ABC correction from the initial wave 1 (or wave A) up from the low two days ago.

I expect the move up here to be corrective against the July 16-17 high. Target is a 62% retracement, stop is the ES low two days ago.

Ya makes yer bets and then ya see what happens.
 
Indeed. I ended up OK for the day as an earlier short from the wave B or 2 high paid off. Should've held onto the freakin' put.

On to Monday!
 
Quote from Quark:

That'll teach me to post a trade.
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That is what most Elliott Wave traders seem to say. When using random methods, you get random results...
 
Quote from Quark:

Just bot an August 1470 ES call for 17.25. I think ESU7 just finished an ABC correction from the initial wave 1 (or wave A) up from the low two days ago.

I expect the move up here to be corrective against the July 16-17 high. Target is a 62% retracement, stop is the ES low two days ago.

Ya makes yer bets and then ya see what happens.
More...

My call: Last 2 days, we just had the "b" wave of major wave "1" down. The "c' started today. Next week will complete "c" of "1". End of the first wave.
Note: "c" waves are always violent. Dow 12500-700 likely. SPX continues to take out support levels like it wasn't even there.
It's chilly out there...feels like March of 2000.
 
the Indicies are WC of W4 of WB: DJIA rally to '1450' completes B of ABC;
next year begins 1-3 year WC of W4 decline to (estimates only):
38.2% 11750. 50% 10850. 61.8% 10000, then rally to 18000 W5 in 2012-13;
SP500 W5 1900; Nasdaq W5 3600 ???
 
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