Ewj: elliott wave
- Thread starter mu200411
- Start date
( SPX Daily)Don't blame me. Blame Baidu.com note.
NEW YORK (CNNMoney.com) -- Technology led a broader stock market selloff Thursday, with investors backing off after pushing the Dow and S&P 500 to record intra-day highs earlier in the session.
The Dow Jones industrial average (Charts) lost around 0.5 percent. Earlier, the Dow had risen more than 100 points and hit an all-time intra-day high of 14,198.02.
The S&P 500 (Charts) index fell 0.5 percent. The broad index briefly hit a record intra-day high of 1,576.09 before backing off.
The tech-heavy Nasdaq composite (Charts) lost 1.4 percent, erasing early gains that set it at a fresh 6-1/2 year high. (2834.00)
http://money.cnn.com/2007/10/11/markets/markets_0500/index.htm
NEW YORK (CNNMoney.com) -- Technology led a broader stock market selloff Thursday, with investors backing off after pushing the Dow and S&P 500 to record intra-day highs earlier in the session.
The Dow Jones industrial average (Charts) lost around 0.5 percent. Earlier, the Dow had risen more than 100 points and hit an all-time intra-day high of 14,198.02.
The S&P 500 (Charts) index fell 0.5 percent. The broad index briefly hit a record intra-day high of 1,576.09 before backing off.
The tech-heavy Nasdaq composite (Charts) lost 1.4 percent, erasing early gains that set it at a fresh 6-1/2 year high. (2834.00)
http://money.cnn.com/2007/10/11/markets/markets_0500/index.htm
What wave degree is yesterday corrective wave?
One day correction of 250, 29, 74 points.
It is impulsive 1-2-3-4-5-a-b-c-1-2-3-4-5-a-b-c.
Status:
EWMTer has just lost his positions.:eek:
Scenario 1.
Market opens down as 1-2-3-4-5
Strategy 1.
Short sell just after opening when there is a lower low. Set stop at the last high. Set target equal to the third wave.
-124.6192 -17.42 -41.3901
Cover short and enter long position when there is a buy signal near the target.
Scenario 2.
The corrective wave is completed. The last 1-2-3-4-5 wave is the beginning of a new bull move another 1000, 100, 200 points.
Strategy 2.
Buy back the long position when there is a higher high. Cut loss when there is a lower low. (Expect a 400,40,80 retracement, but just take what is at hand.
)
Re-enter a long position in a falling Market is very difficult.
One day correction of 250, 29, 74 points.
It is impulsive 1-2-3-4-5-a-b-c-1-2-3-4-5-a-b-c.
Status:
EWMTer has just lost his positions.:eek:
Scenario 1.
Market opens down as 1-2-3-4-5
Strategy 1.
Short sell just after opening when there is a lower low. Set stop at the last high. Set target equal to the third wave.
-124.6192 -17.42 -41.3901
Cover short and enter long position when there is a buy signal near the target.
Scenario 2.
The corrective wave is completed. The last 1-2-3-4-5 wave is the beginning of a new bull move another 1000, 100, 200 points.
Strategy 2.
Buy back the long position when there is a higher high. Cut loss when there is a lower low. (Expect a 400,40,80 retracement, but just take what is at hand.
)Re-enter a long position in a falling Market is very difficult.