You can always check on weekly coal prices at the EIA's website too:
http://www.eia.doe.gov/cneaf/coal/page/coalnews/coalmar.html#spot
Ewj: elliott wave
- Thread starter mu200411
- Start date
You can always check on weekly coal prices at the EIA's website too:
http://www.eia.doe.gov/cneaf/coal/page/coalnews/coalmar.html#spot
Quote from mu200411:
A higer high, first Buy Signal today.
Crossing the green resistance will be the second Buy Signal.
Move stop UP prepare to sell if the Market cannot hold.
The red lines are Sell Signals, move stop down with each signal.
Interesting to note, the financials are not participating in today's rally. Any trade back under 826 SPX would not be good for the Bulls.
Quote from ed:
The overnight retracement in the ES is too strong to be a "b" wave. (Thought I better save the charts before it goes down again.....)
Here's another view..... (similar to Mup's, but again, we can't seem to get in sync with the ED labels...
SPX 90min
http://www.elitetrader.com/vb/attachment.php?s=&postid=2363848
Seems like there is still a final leg up to around the 1:1 @ 857.67. Not sure if irene wants to bid goodnite today.... or stay up still tomorrow...
SPX 90min
Edit:
Mu, agree with you on the buy signal.... you spotted it early! Although I will not be holding them for long
Quote from Landis82:
Ed,
.786 of your Wave 1 ( 53.11 ) gives you a target for Wave 5 in the 832 SPX handle.
We reached that earlier today!
Yes we did hit that
Somehow I just feel that the last leg seems incomplete.... but you could be right that the downmove has already started.
If SPX cracks below or near 800, then I think we all know the answer.....
What do you feel about the volume today?
It feels like a Summer Friday to me . . .
Very light volume, and the only thing that kicked off this rally today at 1PM was the Treasury Note auction. It wasn't even that great, but it was good compared to yesterday's debacle; which caused traders in the stock market to back off and/or sell.
The Coal stocks are rolling-over right now, even though Obama's "Cap & Trade" pollution rights proposal is DEAD for at least the next 2 years, so says OMB Director, Peter Orszag.
Interesting.
Very light volume, and the only thing that kicked off this rally today at 1PM was the Treasury Note auction. It wasn't even that great, but it was good compared to yesterday's debacle; which caused traders in the stock market to back off and/or sell.
The Coal stocks are rolling-over right now, even though Obama's "Cap & Trade" pollution rights proposal is DEAD for at least the next 2 years, so says OMB Director, Peter Orszag.
Interesting.
Still would like that 1:1 around 846 ...from before
http://www.elitetrader.com/vb/attachment.php?s=&postid=2364379
ED into it would be even better
http://www.elitetrader.com/vb/attachment.php?s=&postid=2364379
ED into it would be even better