Ewj: elliott wave
- Thread starter mu200411
- Start date
Yes end of the 3rd on the weekly so in to the 4th now or as Mu points out we could be already in it...
Mu had the bull lean this morning
Mu had the bull lean this morning
Quote from mu200411:
Futures point to a significant rebound.
The Market has until November 5th, 2008 to finish a Flat or a Triangular Correction.
Today may be wave 3)4.c UP.
Edit: Is October 13th high target too optimistic :eek: ?
Looks like Art Cashin is a fan of EWT.
Art Cashin, on floor of NY Stock exchange. (Source: CNBC) Oct. 28th, 2008
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"Q: We're feeling the bottom again, Art. What's going to happen?
Cashin: I would love for a little bit of an up move today - maybe go up to 8750 or 8800 -- that would be a textbook Elliott Wave move -- and then you'd get that big washout / selloff. I was hoping for it by the end of this week, guess it's going to be pushed into next week. A dramatic climax looks like it's very near at hand here.
Q: Yikes! That could be scary. I guess if it was early November, that's not much different than making a low in October, is it Art?
Cashin: Well, in 1929, you made the low on November 4. I prefer to keep them in October. ...
I'm looking for a climactic bottom, down from here obviously, and that could carry through for several months [i.e., lead to a rally for several months], and then maybe in May, we'll get to know the full effect of the recession, and see how things look then. ...
I don't want to scare anybody. You could get an overtrade, You retest the original lows around 7850, you could go to 7400, you could go to 7000, you could even overtrade that. But it will be quick. Get your basket out, and be ready to catch the bargains when they come your way."
Art Cashin, on floor of NY Stock exchange. (Source: CNBC) Oct. 28th, 2008
--------------------------------------------------------------------------------
"Q: We're feeling the bottom again, Art. What's going to happen?
Cashin: I would love for a little bit of an up move today - maybe go up to 8750 or 8800 -- that would be a textbook Elliott Wave move -- and then you'd get that big washout / selloff. I was hoping for it by the end of this week, guess it's going to be pushed into next week. A dramatic climax looks like it's very near at hand here.
Q: Yikes! That could be scary. I guess if it was early November, that's not much different than making a low in October, is it Art?
Cashin: Well, in 1929, you made the low on November 4. I prefer to keep them in October. ...
I'm looking for a climactic bottom, down from here obviously, and that could carry through for several months [i.e., lead to a rally for several months], and then maybe in May, we'll get to know the full effect of the recession, and see how things look then. ...
I don't want to scare anybody. You could get an overtrade, You retest the original lows around 7850, you could go to 7400, you could go to 7000, you could even overtrade that. But it will be quick. Get your basket out, and be ready to catch the bargains when they come your way."
....this has got to be the best thread on ET.... is for me at least.....
..... we are lucky that so many people don't dig EW .... and that this thread has not gotten too popular yet....
.....thanks to everyone for contributing....many different views around here....that is what makes it a great thread....
..... we are lucky that so many people don't dig EW .... and that this thread has not gotten too popular yet....
.....thanks to everyone for contributing....many different views around here....that is what makes it a great thread....
Elo, I am also very grateful to everyone in this thread! It's been wonderful during these tough times!!!!
And thanks for sharing this divergence! It is such a powerful signal just before the 800+ point upmove!
And if that last upmove was a ED iv, then I'll be looking for a retest of the lows in the SPX of about 840-850 very soon........
Count invalid if it moves above the ED ii high in the 90min SPX chart
Great work guys!
Thanks Mup, ammo, elo and ed .
Mu.
Sometimes the Market does what EW says it can do, that is very exceptional, "second-best day ever" .
The first target is halfway to the second target .
Wait and see whether the Market will unfold into a Flat or a Triangle .
Note similarity between the shaded area and the whole area. Is this fractal ?
.Mu.
Sometimes the Market does what EW says it can do, that is very exceptional, "second-best day ever"
.The first target is halfway to the second target
.Wait and see whether the Market will unfold into a Flat or a Triangle
.Note similarity between the shaded area and the whole area. Is this fractal
?