Ewj: elliott wave

Here's an updated chart of the SPX weekly I drew a little while ago.

The a-b-c corrective upmove seems complete.

This current downmove is so "lethargic" I think it could be part of a larger "B" wave drop before another "C" wave up.

The picture should get clearer after Mr Obama's inauguration.

SPX Weekly

:)
 

Attachments

.....85.49 .... last reaction low on spy
....a recovery from this point could catch a lot of shorts....
.... otherwise .... below that last reaction low.... should speed up a lot....
.... tuesday would be 5th day of down move.... a possible good time for a shake out.....
876 was my last ALT..... so possible change of degree.....now.....swing frame
....on this down swing.... today's low is wave 1 equal wave 3
.... 88.6 percent .....
 
At the open,

(1) if the SPX cannot clear above 874.85, then odds favor one more leg down. Above that, then see (2).

(2) if the SPX moves above 878.50, then chances are that the upmove is resuming.

(3) of course, Mr Market can get emotional and just decide to move around blindfolded...:D

SPX 60min
 

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Landis,
Excellent link :cool: .
We might have to close our thread if he posted real time.
Mu.

More DOWNWARD pressure after the supporting trendline was broken :( .
Confirm Wave 5) if lower than 857.07 :eek: .

Note a quarter million views :D .
Quote from Landis82:01-13-09 07:28 AM

Here's an interesting comparison of where we might be from Corey Rosenblum's blog . . .

http://blog.afraidtotrade.com/

:cool:
More...
 

Attachments

Quote from mu200411:

Landis,
Excellent link :cool: .
We might have to close our thread if he posted real time.
Mu.

Note a quarter million views :D .
More...

Landis,
Thanks for the link :)

Mu,
Even if the other blog posts realtime, I'd still prefer the camaradie here! A quarter million? Wow! Imagine if you charged a dollar per view.... :D
 
Quote from ed:

Landis,
Thanks for the link :)
More...

No problem guys.

Aside from this Thread, ET has really gone down the tubes over the last couple of years . . . There is a lot of other VALUABLE content out there, and every now and then I "stumble" across something that looks solid.

Again, you guys are great.
Just about the ONLY reason why I still post on ET!
:D
 
Quote from ed:

At the open,

(1) if the SPX cannot clear above 874.85, then odds favor one more leg down. Above that, then see (2).

(2) if the SPX moves above 878.50, then chances are that the upmove is resuming.

(3) of course, Mr Market can get emotional and just decide to move around blindfolded...:D

SPX 60min

http://www.elitetrader.com/vb/attachment.php?postid=2257377
More...

874.85 has been exceeded. So now onto (2). If (2) is exceeded, then a degree change.

All according to Mupster's dictionary :D
 
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