Ewj: elliott wave

[mu200411]

Fifth wave is a good sign .
But can it pass the resistance trendline of DT2?

 

[elovemer]

at the interim top ... w

 

[mu200411]

.3:3v?= Target still holds. We may be in wave .3:3i and ii.

Quote from mu200411:05-14-08 07:50 PM
.2= 12270.79 1324.35 2266.29
:1= 13132.21 1422.72 2499.1399 <- (.v?= Target)
:2= 12716 1384.11 2429.03
.3:3v?= 13577.42 1482.48 2661.8799

 

[elovemer]

.... after today's reversal .... joe Q will be hesitant to get long .....

.... but if it can get up to 55 .... joe may get long again..... which is where he needs to get long again (to be fleeced)

 

[elovemer]

....55 is nice because it is well above the 200sma on the daily
.... and therefore a good place for bullish sentiment

 

[elovemer]

... this wave count goes along with my 2 sets of five waves down on the daily....
... anyway .... this count suggests that the low was the end of the 2nd wave.... and that we have begun the 3rd CYCLE wave up
..... and that we are just about to complete the third PRIMARY wave up
..... the 4th primary wave down might give the higher low after 1253 low

 

[elovemer]

....here is a close up shot of that last chart....

 

[Mup]

Are you using swannell's EW software elo, ?

Got that one more push higher into the 200 day ma to finish off the wave (iii) of the ED C wave...

SPX 120min to show were were up to in the possable pattern..

 

[elovemer]

.... is that ELwave ? it is elwave that i am using.

Quote from Mup:
Are you using swannell's EW software elo, ?
.

 

[Mup]

1:1 measured move comes in at 1411 so its a key area of interest..

5min ES