Ewj: elliott wave

ed,
ROC = Rate of Change.
Mu.
According to Landis' data, the majority is on the wrong side of the Market :D .

Quote from Landis82:08-03-08 05:07 AM
Investor's Intelligence
Bulls: 30%
Bears: 50% ( new high for the move! )
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Rather "dovish" comments by the FED as they acknowledge an economy that is slowing even further ( as evidenced by the commodity sell-off ).

Crude cracking into the close now . . .
-2.71 at 118.70
 
Quote from mu200411:

ed,
ROC = Rate of Change.
Mu.
According to Landis' data, the majority is on the wrong side of the Market :D .
More...

Thanks Mu.

Yep, very bullish indeed..... the VIX dropped more than 7% today!!!!:) And the INDU just cross +300.....
 
.... was looking for weakness wednesday if (MY) wave 3 could finish higher than 1291...
.... it didn't .... so i am still looking for strength to continue....
..... although a pullback would be very good....
..... on 4 hour chart... ascending triangle in a down trend
.... on ascending triangle.... question is whether it will touch lower trendline again before attempting to break out....
Quote from elovemer:
.... possible weakness to begin timewise......wednesday
.... wave 3 up ... needs to be confirmed today and tomorrow....
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... on OIH ... i am seeing the down move finishing around 61.8 % .... from 146.63 low
.... not quite sure about wave count on this.... possible 5th wave up to new highs
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.... on SPY .... right at vibration resistance line on daily .... which coincides with the ascending triangle....
.... getting through the 1291 high ... after some pullback .... could make way for an extended up move .... :)
.... the strong volume on the approach to 1291 level.... followed by pullback ... could be good.
 
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