Ewj: elliott wave

[mu200411]

SPX's "Big M" is now tentative.
SPX's Ending Diagonal supporting trend-line breakdown.
"Big M" target may be 1,981.

New highs with less volume = not wave 3.
May be an Irregular B like 1929.

 

[mu200411]

TRAN rebounded from near "Big M" target at 8,584.
The tentative Bigger "Big M" target are 7960 and 7,700.

 

[mu200411]

TRAN vs INDU
Which one is the leader?

 

[mu200411]

INDU confirmed TRAN's Bearish signal.
INDU's Death Cross.
INDU's multiple "Big M" (moribund) patterns.
17037 = neckline.
"Big M" target = 15935 if confirmed.

 

[mu200411]

TRAN rebounded from near "Big M" target at 8,584.
The tentative Bigger "Big M" target are 7960 and 7,700.

TRAN rebounded from 7,970 near Bigger "Big M" target @ 7,960 to 8530 near previous target @ 8,584.
Next target may be 7,700.

 

[mu200411]

NASDAQ's "Big M" confirmed, targets may be 4,719 or 4,684 or 4,580.
BULL Trap support at 4,810. Another support at 4,610.

NASDAQ rebounded from 4,825 near BULL Trap support at 4,810 to 5,231 just above Year 2000's High then fell DOWN to 4,945.
There may be another new High.

 

[mu200411]

SPX's "Big M" is now tentative.
SPX's Ending Diagonal supporting trend-line breakdown.
"Big M" target may be 1,981.

SPX's "Big M" failed. SPX is now in a trading range between 2,134 and 2,039 for more than half a year.

 

[mu200411]

UTIL rebounded from 565.63 near 555.71 support.
5 waves DOWN, 5 waves UP 3 waves DOWN.
There may be another 5 waves UP to 612 or 625.

UTIL didn't rebound from 575 as expected but from 548 to 609 near 612 target.
Next may be a fall to 525.

 

[mu200411]

USD/JPY broke previous top at 121.850 and went up to 122.025.
This may be Wave 3]3)5.3.
Wave 3]3)5.5 might end near measured moves at 124, 127.5 or 129.3.

USD/JPY went up to 125.85.
There may be another wave to 127.5 before some set back to 118.

 

[mu200411]

EUR/USD took a dive to 1.049. This may be Wave .3 .
After Wave III3]3)5.4 ends,
Wave III3]3)5 or Wave III3]5) can go DOWN to 1.020.

Wave III3]3)5.5 is a wave 5 failure.
Wave III3]4) went UP to 1.145.
Wave III3]5) may go DOWN to 1.023.