Ewj: elliott wave

[mu200411]

There is new low today , so it should be part of wave iv .
Wave .$B!&!&(Bis counted as an a because there is five subwaves.
The Market should go UP as Wave 3)4.c:5v soon , if there is one .

 

[elovemer]

....26.75 ....is target on ending diagonal for wave 3 .....
....edit...the obama thing seems like classic buy rumour sell news action....
....edit.... right at bottom of the diagonal wedge.... so should start to drop faster....

 

[mu200411]

As time goes by the DOWN Waves begin to look more and more impulsive. We have to consider that Wave 3)4.c:v may be a Wave Five Failure, and Wave 3)5 DOWN has begun :eek: .
This count will be confirmed when we see wave .iv and .v and Wave i territory is invaded .

 

[elovemer]

....closing that gap at 64.75 ...should be a good place to check air in tires....
.....continuation or not...from there....

 

[elovemer]

...possible measured move here....

 

[elovemer]

....here is a shot of that wolfe wave play...

 

[mu200411]

This is the last count that the Bulls can expect a significant rebound UP :eek: .
Edit:
Point of entry: above 9250, 960, 1710 .
Below that no good :eek: .

 

[elovemer]

...has not broken channel on 2 hour globex yet....
....edit....1008--968 is a nice sounding range....

 

[ed]

Quote from elovemer:

....here is a shot of that wolfe wave play...

Thanks Mu & Elo for the updates....

I think the trend could have changed downwards for now....

I like that wolfe stuff.... it's interesting

 

[ed]

Quote from ed:

I think the trend could have changed downwards for now....

While the channel have been broken, what I don't feel comfortable is the lack of "drive" and volume to follow through this downward move... feels very weak to me....