Ewj: elliott wave

All Hell broke loose. :D
May 23th, 2008 12460.0898 1373.72 2430.3601
Ivb]= 14198.0096 1579.09 2861.51
Ivb]1)1= 11644.8096 1256.98 2155.4199
Ivb]1)2= 13136.6904 1440.24 2551.47
Ivb]1)3?= 10583.4904 1118.13 1845.3799
Short Term
2.a= 12733.6602 1386.74 2391.9299
2.b= 12270.79 1324.35 2266.29
2.c= 13136.6904 1440.24 2551.47
3.1:1?= 12673.8202 1377.85 2425.8301
Iva] 12517.9404 1370.6899 2386.6899
Status:
Hold short positions.
Strategy:
Cover short positions if the Market rebounds from supports.
 

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Robert,
If this is wave 1]5)1.2, it should end soon :) and above wave 1:1ii
else the above post will come into play :( . But the down wave looks a little bit impulsive :confused: .
Mu.
Quote from TraderRob:05-24-08 03:33 AM

MUP, Landis, Mu... what are your thoughts on my bearish post? Is anyone bullish? I am interested in your opinions... tell me where you think the market will be in the next 3 - 6 months.
Robert
More...
 
The question on the SPX is , has it completed the (X) wave or not...

The options are: its finished its lesser (a) wave and is now in the lesser (b) before moving back up for the final (c) to complete the 3 wave (X).

Or its already completed the (X) as a 5 wave triangle pattern.. I'm kinda leaning with this idea as it would catch the most people out...

I've put both options on a daily chart....That swing low at 1324 is key above that level it has a chance of a lesser (c)..Below it, then the odds swing greatly in favour of the triangle (X)....

See what you think :)
 

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Status:
Shorts covered and long positions entered.
Strategy:
This is a five-wave down. It may be an :a or a:c, a Bear Trap for the Bears or a Bull Trap for the Bulls. But there is still some profit left to be made to wave iv.
 

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