Ewj: elliott wave

Quote from mu200411:

Looks like an abc :) .
c may be equal to a or 61.8% or a :D .
More...

Mu,
After looking at some long term charts of the top 10 constituents of the SPX like XOM, JPM and JNJ, I am beginning to see where you are coming from... :)

Anyway, being the bear that I am, here's another alternate bearish count scenario I am beginning to favor..... :D

SPX 60min :)
 

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If you agree that the market has topped... I think that we started the fifth and final wave 5 of this Wave I sequence down off the 1150 highs . . . after Friday's higher opening, which ended an "a" (1100.22), "b" (1078.46), "c" (1096.44), "d" (1081), "e" (1088) wave iv triangle before breaking down hard.

In that Wave "v", you can make a case that there has been a "i" and a "ii" followed by a "iii" and possibly a "iv" just before the close on Friday.

In any event, it would target sometime during the trading day of MONDAY as the final price low for this ENTIRE sequence, leading to a Wave 2 counter-trend rally.

:)
 
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