Ewj: elliott wave

Quote from Mup:

Hi blnbr :)

Most EW'ers have that Move into that November Low as a lesser wave 5 of (iii)....

I have difficulty with that option , due to the wave structure looking more of a 3 wave pattern going into the low...? I keep seeing forced counts that "allow" some overlap of wave 4 in to wave 1, so people can "fit" a lesser 5 wave count...

Even if you allow overlap ( personnally I don't) You carn't really curve fit the Alts though ....:)
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Hi Mup, I had been watching SPX knocking at the down trend line at around 851 this afternoon:eek:. Yep, the resistance worked and pushed the bull back, gee :) I bot a small put there too:cool:

I would not make forced EW count either.
 
What I was watching was the daily down trend line this afternoon. It seemed to be the resistance and pushed the intraday price back at around 851. But if SPX returns to that level again tomorrow, the line could be broken.

We also want to see how the market reacts to the Nonfarm number tomorrow.
 

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The Bulls managed to push UP to the Line of 38.2% Retracement again.
Crossing the blue resistance trendline UP will be a Buy Signal :) .
Crossing the blue supporting trendline DOWN will be a Sell Signal :( .
The red lines give approximate targets.
Note interesting fibonacci's ratios :D .
 

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So there was another 1-2-3-4-5 UP as expected :) and a-b-c ,
then a small 1-2-3-4-5.
There may be another two big 5-waves UP :D .
The upper trendline break UP may be a Buy Signal.
The lower trendline break DOWN may be a Bear Trap :confused: .
If the upper trendline break UP is a Bull Trap, we have to re-label Wave 4)c.3:3ii.ã as a three :mad: .
Quote from mu200411:02-05-09 10:48 PM

So it was a 1-2-3-4-5 followed by a fall as Wave 4)c.2:a-:b-:c :) .
There may be another 1-2-3-4-5 UP :D .
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