Ewj: elliott wave

The most expensive macroeconomic experiment is coming to an end.
Note Volume.
Quote from mu200411:05-15-13 01:27 PM

The last Bearish count is 15 year Expanding Triangle Wave IV)D going DOWN to IV)E soon.
The Bullish count is V)I3]3) going to 4) sometime in the future.

9) "D" waves — "D" waves in all but expanding triangles are often accompanied by increased volume. This is true probably because "D" waves in non-expanding triangles are hybrids, part corrective, yet having some characteristics of first waves since they follow "C" waves and are not fully retraced. "D" waves, being advances within corrective waves, are as phony as "B" waves. The rise from 1970 to 1973 was wave [D] within the large wave IV of Cycle degree. The "one-decision" complacency that characterized the attitude of the average institutional fund manager at the time is well documented. The area of participation again was narrow, this time the "nifty fifty" growth and glamour issues. Breadth, as well as the Transportation Average, topped early, in 1972, and refused to confirm the extremely high multiples bestowed upon the favorite fifty. Washington was inflating at full steam to sustain the illusory prosperity during the entire advance in preparation for the election. As with the preceding wave , "phony" was an apt description.
http://www.elliottwave.com/tutorial/lesson7/7-3.htm
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UTIL showed Bearish Engulfing look-alike at previous tops' level.
Note very "Big M" pattern waiting to unfold.
Quote from mu200411:05-10-13 05:13 PM

Only UTIL did as expected. Second RSI SELL Signal followed by second MACD SELL Signal with 5% correction.
Weekly UTIL's RSI first SELL Signal. There may be some rebound from MA(50). Strong support at 500. Next support at 440.
TRAN managed to rebound after weekly RSI and MACD gave first SELL Signals. Second RSI SELL Signal may appeared soon.
TRAN showed Candlestick Evening Star?
Strongest Index in strongest economy still catching new highs.
There may be Second weekly RSI SELL Signal soon.
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$USD Wave 3]1)3 target may be 86.5 and Wave 3]5) 91.
Note reverse Head and Shoulders pattern and Fibonacci ratio.
Quote from mu200411:05-10-13 05:48 PM

Stock could be overbought forever; after the third SELL Signals in RSIs SPX and NASDAQ fell a little the(n) march UP again.
Now there are RSI's SELL Signals again.
This time may be different if $USD runs UP due to reverse Head and Shoulder patter in weekly chart and "W" pattern in daily chart.
Note false break in $USD's "Big M" pattern.
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MACD and RSI SELL Signals in Goog and Crude Oil.
MACD SELL Signals in $USD but MA(50) is still rising.
MACD and RSI BUY Signal in Silver, may be no new low for sometime.
RSI BUY Signal in Gold, may be no new low for sometime.
MA(50) will cut MA(200) DOWN in $XEU soon.
 

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