Ewj: elliott wave

Mup

I'm really a novice in terms of counts and have no idea about the different schools of thoughts about Elliott Wave.

I'm just trying to recognize the wave structures now and think I have a LONG LONG way to go......

But thanks for your guidance and patience, for I will need a lot more of it in days to come...:D
 
OIH "alert" Mup!

Now trading a "touch" back under 225.00 and in the range. Let's see if it can get back above 226.50, or make a new high.
 
Leading Diags (LD) are common after throw overs so its worth keeping an eye on that possable option...

The LD becomes incorrect above that wave 2 label at 226.5 area.. Could still be in the wave 3 of the LD before moving up into the 4th , then down again for the 5th..

5min OIH :)
 

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Quote from Mup:

Last Alternate wave was +31.25 on the SPX so its always going to be a restance point at the 1292 area...

120min SPX
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hi mup, i don't misundersand your view. As i say, i have also different case scenario and wave counts both impulsive and corrective in background, and depend on market condition and action, it will pickup favorite case. cause market always right.

On my view right now

- yesterday, the strong reversal action at downtrendline + last low

- with high volume, very bullish sentiment at low

suggest that downmove from +1440 since 19 may is finished. That why i have change my 5 impulse wave of a or 1, which v extended -- see daily both daily chart.

also today rectracement was expected.

Quang

SPX Near Term Roadmap >>>>

all charts show created time (CET european central time), Timeframe of chart. Futures or cash.
 
Just did yet another 5 wave move on the 5 minute SPY chart to the downside, with 5=1 at 127.56

SPX just retraced a bit more than 50% of the rally thus far.

OIH in a bit of trouble!

Just traded down past .618% at 222.80 from yesterday's low to this morning opening highs.
 
Quote from mu200411:

There may be a r-sHs forming at measured move.
Expect another rebound. :)
But wave v is too short in this count! :eek:
So, there is no buy signal until the resistance trendline is broken. :cool:
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yes on intraday chart was draw this case of SHS.

sentiment suggest strongly upmove of correction --- confirmed on my side
 
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