Ewj: elliott wave

[blnbr]

Quote from ed:

Perhaps you can try labelling the counts on the chart?

From there, you'll better understand what those circled areas correspond with.

Give it a try?

Thanks Ed for the encouragement.

It seems the impulsive waves are relatively easier to count but the corrective or sideway waves are tricky for the newbies like me. I’ll wait and see this time.

 

[blnbr]

Quote from ed:

Perhaps you can try labelling the counts on the chart?

From there, you'll better understand what those circled areas correspond with.

Give it a try?

On SPX daily chart, perhaps it's now moving on a-b-c-x-a-b-c, I guess

 

[blnbr]

Quote from blnbr:

On SPX daily chart, perhaps it's now moving on a-b-c-x-a-b-c, I guess

Like this.

Correct me if I did it wrong.

 

[ed]

Looked like a 3-3-5 Flat correction in the SPX 15min....

Or a double zig-zag.....

 

[ed]

Quote from blnbr:

Like this.

Correct me if I did it wrong.

Only Mr Market is right all the time.....

My input in blue. I believe there is a slim chance of a 3-3-5 flat correction in the SPX daily.

 

[blnbr]

Quote from ed:

Only Mr Market is right all the time.....

My input in blue. I believe there is a slim chance of a 3-3-5 flat correction in the SPX daily.

Following your thinking, I added red labels on the chart. Let's see if I understand you correctly.

Again, anyone may correct me if I am wrong.

 

[mu200411]

blnbr,
A lower low than 5(3) should be counted as a part of (5) unless (4) is an irregular correction.
mu.

 

[ed]

blnbr,

Sometimes when the count seems confusing, it helps to take a step back and look at the longer time frame.

Take a look at the SPX weekly chart. It does look a little clearer doesn't it?

Quote from blnbr:

Hi Circadian, I'm not familiar with VIX, so I will be watching and learning from you guys rather than making comments at this point.

Good trading

http://finance.yahoo.com/news/How-to-Use-the-VIX-to-Guide-tm-14324954.html



SPX Weekly

 

[blnbr]

Quote from mu200411:

blnbr,
A lower low than 5(3) should be counted as a part of (5) unless (4) is an irregular correction.
mu.

Mu, Thanks for the comment. I had (5) label on the lower right corner on the chart. Is that what you mean?

 

[blnbr]

Quote from ed:

blnbr,

Sometimes when the count seems confusing, it helps to take a step back and look at the longer time frame.

Take a look at the SPX weekly chart. It does look a little clearer doesn't it?




http://finance.yahoo.com/news/How-to-Use-the-VIX-to-Guide-tm-14324954.html



SPX Weekly

Ed, Yes, the weekly chart is important for us to get a feel about how the market is doing for the longer term. Let's see how things pan out next.

Thanks for the VIX info.