Ewj: elliott wave

Unless we're getting fifth wave extensions, the selling is pretty much done for today in the INDU, SPX and NDX 30min charts.... :)

ET seems to be cranky today....
 
Stocks tumble on lack of detail in Treasury's bailout plan according to AP report.

SPX has fallen over 40 points today and the bulls are still hiding away in late afternoon :(
 
Hmm we've had floods over here after the heavy snow storms...

Water and High speed Cable don't seem to mix well so were on back up ADSL here at the office hence the lack posts...

Anyway, the 837 (Globex) is a key area (1:1 into 38.2) to watch , if it carn't clear it, the bears well see wave 4 & sell it down for the 5th... Above 837 the bulls are more incontrol as elo points out, with yesterdays mark down being a lesser "c" wave..
 
Hi Mup, Do you also follow USD.CAD? Or do you have any comment on its daily chart with EW? The huge move of USD.CAD in the recent months is just unbelievable.

Hope the weather in your area will soon be back to normal.
 

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On the inverse CAD H9 I'd like to see a move towards 0.70... that would mean a move higher on your chart blnbr, towards the 1.30 area...
 
I have dollar strength on the Dollar index as part of a C wave move higher...

Gold has been pesky in moving higher, which kinda of goes against dollar strenth, but the move up in gold looks like (B) wave as part of a larger degree Flat pattern, before a move back down for the (C).

Anyway heres a weekly DX #F chart....
See what you think :)
 

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