Ewj: elliott wave

There was an extra wave which could be the fifth wave of Wave 5)4.a:a :confused: .
So there may be another move DOWN to near end of Wave 5)4.a:4 :(
before a big rebound as Wave 5)4.c to end of Wave 5)3.4 :D .
 

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Breakback patterns are popular with Gann pattern traders as well as EW'ers....

As always needs to overbalance its lesser ALt's (-4) to show things are changing

5min ES
 

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Interesting how quiet this thread is when things are bullish...... should be lots of bears here.... :)

The upmove since March 6th looks more like an ascending wedge to me now. Can't really fit in counts of fives so I'm more comfortable labelling them a-b-c-d-e.... :)

This count is nearing completion and would be a "gift for the bears" as Mup would put it. :D

See what you think...

SPX 30min
 

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The Market went DOWN then UP as expected.
The first small measured move is reached :) .
There should be three small measured moves :D .
The red lines are the stop loss levels.
 

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Huge "grind" across the board.
Same in crude oil, now +4.60 heading into the close. This is supportive of the OIH and energy names in the S&P.
 
It some supply going into that 740-42 area...

-7 ALt sould be the first eyeball.... Again the last lesser ALt was -3 that needs to go before the -7 comes into play as the Vol cap could be the end off a lesser iii...

5min ES
 

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