Ewj: elliott wave

Quote from 4444CJones4444:

I thought he said equities would rally Feb 13th. That's a big swing and a miss. I'll let it slide if we rally next week and hold until March like he said. It's not looking good though.
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I just want to CLARIFY some things about Nenner since I was the one that brought his research and "cycles" up.

Yes, he did tell CNBC anchors that there would be a cycle coming in around Feb. 13th. And I think that in another video somewhere he also eluded to a longer-term cycle that was to bottom around the 24th, and that he would hold longs into a mid-March time frame. March 9th or 16th.

That having been said, he also says ( in his latest subscriber e-mails ) that he has not "taken" any of these cycles due to his technical analysis not confirming any reason to be bullish at this point and time. Nenner says that his T/A will trump whatever his cycles are indicating.

Last I heard ( on Friday ) he would not "consider" going long the S&P unless it closed above 786.
 
...this ALT is in play here again....

--------------------------------
02-20-09 01:25 PM
.... here is a good example of a swing sized ALT ....
.... the purple rectangle is the size of the correction
..... the biggest correction in the down swing equals the biggest correction in the previous up swing
 
Pesky ALts.. :)

Bears will be just seeing a wave 4 with an alt & 38.2%...

The 4 could be come more complex due to wave 2 looking sharp.... so this move back down could turn into a lesser "b".. 3 waves into the Alt means Flat a so the higher fibs come into play ie 50% upwards for the lesser "b"...


120min Globex
 

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The last down wave may be fifth subwave of fifth wave :) .
The DOWN move might have ended or next new low may be a Bear Trap :D .

Edit:02-23-09 11:34 PM
This new low may be a Bear Trap :confused: .
 

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Quote from mu200411:

The last down wave may be fifth subwave of fifth wave :) .
The DOWN move might have ended or next new low may be a Bear Trap :D .

Edit:02-23-09 11:34 PM
This new low may be a Bear Trap :confused: .
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Mu,

I agree this feels like a huge bear trap.... Today's drop could be the 5th wave down so I'd be looking out for a wave 2 up :)

Charts on strike.....
 
Quote from mu200411:

ed,
I agree :D .
mu.

The 12-waves count and 750-740 target may turn out to be the right count :eek: ,
and Wave 5)3.3:5 has just ended :) .
If not, it should not go DOWN below 740 :D .
Else have to re-count :mad: .
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Did someone say 738?
:D
 
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