Ewj: elliott wave

[Mup]

Quote from mu200411
Will the Bears be trapped today :eek:

Nicely done

 

[Mup]

That weekly USO is looking better now...

 

[mu200411]

It's a Bear Trap as expected.
ST long position is not closed due to the divergence and a quick rebound.
LT long position entered when the parellel resistance trendline is broken as said.

Quote from mu200411:05-01-08 10:13 AM
The Bulls had been trapped yesterday. Will the Bears be trapped today when wave .ii turns out to be a running correction.
Strategy:
Cut loss at the "M" neckline break . Hold if it holds .
Re-enter at .á or i:v and the completion of small "M" pattern . Cut loss again at the big "M" neckline break .
Enter LT long position when the parallel resistance trendline is broken.

 

[elovemer]

XLF ....

 

[mu200411]

Profit taken on the ST long position at +200, +20, +40. Prepare to buy back at -70, -7, -14 points + or - 30%.

 

[ammo]

Quote from Mup:

If it can hold a pull back to the 582-581 (61.8 & 78.6) its bullish..

If not it means the pattern becomes a flat with downside target around 9 bucks to the 576 area..

nice read on goog mup

 

[elovemer]

....M
... did not have time to post this earlier
.... just an example

 

[elovemer]

..... looking for a higher low still ....
.... but here is one possible scenario... which would also be bullish

 

[mu200411]

There are clear signs that the market is poised for a big jump in the coming weeks.

 

[mu200411]

All resistances, Reverse Head and Shoulders Neckline, Resistance Trendline, and August 16th, 2007 close, are shattered.
Status.
ST long position bought back at -50, -5, -10 and double bottom.
Strategy.
Hold longs to measured move and resistance level.

Note.
I may have to up the wave counts one degree.