Ewj: elliott wave

[mu200411]

Not much change since 06/01/2009.
If this sideways market may be Wave 1)1.2 there may be a measured move UP as Wave 1)1.3 .

 

[mu200411]

Five waves UP .
There may be a measured move UP as Wave 3)1.3:3 .
Mr.Market has hold back the answer for 10 day, today he may show his card .
Edit:
Blue lines crossing = Buy signals.
Red lines crossing = Sell Signals.
Note the "M" pattern.

 

[Landis82]

The market continues to act well.
OIH powering higher.

 

[mu200411]

Second BUY Signal triggered .

 

[Landis82]

OIH now in the $115 handle.
Has anyone been long this???

 

[Landis82]

Bulls have now reached 47.7% in the Investors Intelligence sentiment ratings, with only 23.3% Bears . . . as of June 10th.

http://www.schaeffersresearch.com/streetools/market_tools/investors_intelligence.aspx

 

[Landis82]

Time to shake the Tree a bit here.


Too many longs looking for a surge into the close, as has been the pattern.

 

[Landis82]

A perfect A-B-C decline from 3PM on into the close . . . Hmmmm . . .

 

[ed]

We could have been stuck in a triangle or combination correction in the ESU9 since Jun 1st.

If so, the usual suspects upon completion would be a thrust or an ED. Since the move off the 923 lows on Jun 10th resembles a 3-wave structure, I lean more towards an ED count.....

929.25 or 926.25 could be potential support. Else, things will turn bearish below.

ESU9 120min

 

[Landis82]

Yep, I've been "seeing" the a-b-c-d-e pattern as well . . . but that hasn't stopped the OIH and the energy sector from going absolutely ballistic!

Another ED, ed?