Ewj: elliott wave

Quote from ed:
Mup,
Since we are on this, can I clarify also....

Would ALT be relevant for clear 5 waves impulses or is its usefulness restricted to ED or double zigzags where 1:1 is common?

:) [/i]
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Just have to remember what ALT stands for...

Its an an abbreviation of the word Alternate..

Alternate meaning waves or lenghths unfolding in the same direction.

Have think and maybe another look at 127 in Prechter anniversay edition...

Its one of the most useful things Frost & Bolton noticed.

In a 5 wave impulsive structure, its the corrective ALTS your working with that tells us when to stay with trend or when things are changing... So they are very useful in impulsive structures..

I'll try and have a think on how to put the ALT rules across more easily... Over the weekend with a Mount Gay would help :D

Anyway just ask away if things are still not clear..
 
A chart migh explain how ALTs Help in an impulsive move..

A weekly chart of the SPX of the move of the 02 lows...

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=2175932 width=800>
(click on attachment to enlarge)
 

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Once again, the OIH and the Energy Sector power the market higher . . .
Fund managers just can't keep themselves from chasing a rally with the largest cap and most liquid energy names!

Just take a look at CVX ( +8.43 ), XOM (+6.48 ), SLB (+6.71), APA (+9.64), etc.

OIH +11% today!
:)
 
Quote from Panama:

This thread amazes me!! Are the Mkt Mkrs also reading it? Well if not,... how do they know where to take it to, time and time again? I'm in awe!
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Even now, after all the years I've been using Elliott Wave, it still surprises me how the the patterns play out, time and time again.. :)
 
Quote from Mup:

A chart migh explain how ALTs Help in an impulsive move..

A weekly chart of the SPX of the move of the 02 lows...
More...

Thanks Mup! This is a perfect example! Just look at the number of hits this example got!!!!:eek:

"....Unfortunately, that is where most analysts place an inordinate focus because measuring retracements is easy."

That's exactly what I've been guilty of! :D
 
Did hit a higher degree 50% on the Globex..

So its worth keeping an Eye the move of the lesser -23.75 Alt just incase it stalls out and fails to make a new high...
 

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On the SPX 15min chart,

w1 = 41.09
w3 = 36.99
w5 = 52.71

So clearly it cannot be a complete 5 waves up. Is there one last leg up? :confused:

If it were an ABC in the same chart, then,
A = 63.39
C = 52.71 (=0.83 of A)

If it is an ABC, then where are we in the weekly? Wave4?

Only the ALTs can give us the direction now!!! :D :D :D

Edit :
I would like to see a 50% or 61.8% correction before considering going long.
 

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