Ewj: elliott wave

Quote from Mup:

CL #F still looks like it wants the 1:1 around $86..

Daily CL #F
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Thanks Mup.
$86.05, with each leg being 35.25
:)

The OIH got absolutely pummeled in the final hour of trading today. Was trading around 156 when crude closed at 2:30PM only to get crushed down to 152.27 at the close.

Previous low for the move down was 151.68 on sept. 10th.

October crude trading $93.60 electronically, off another -$2.11
 
The Worst Case Scenario is approaching :eek: .

US Markets Sep 16 7:24am † Change %Change Level
Dow -117.00 -1.07% 10,832.00
NASDAQ -14.25 -0.83% 1,707.00
S&P -15.60 -1.30% 1,180.50
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Posted by mu200411 on 07-03-08 05:40 PM:

The Worst Case Scenario comes closer and closer.
There may be another wave :v and another bigger wave v, which will lead the indices to top of the supposed wave 1) at 10627, 1156, 2140
 
1178 is the 1:1 on the SPX so it might get some support on the open if it can hold that area...if not then its implusing and we'll have some way to go..

120min SPX
 

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INDU is close to its 50% on the weekly

between 10680-10650 depending if you measure from the top of the proceding impluse wave..

The 1:1 of the move down (y=w) on the chart comes in just below the 50% at 10560 area

weekly INDU
 

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This morning rebound may be wave four and wave five will go down to target :eek: .
Sometimes there is no wave five as expected :confused: .
If today candle is a hammer at the support trendline of the descending wedge, this may be the Big Bear Trap as said earlier :) .
SPX low at 1169 is near some of the previous calculation at 1170 :D .
 

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