Ewj: elliott wave

Index future is not a good index of the future, at least the near future. It can predict whether the Market will open up or down, but it can not foretell what the market is going to do the rest of the day. So go short at open when index future is down will not guarantee profit.
 
Scenario 1.
The Dow gets above yesterday high and continues to +200.
Strategy 1.
Buy when the Dow open up. Stop loss at the last low before market closed. Use trailing stop for sell signal. Count for five wave up.

Scenario 2.
The Dow falls below the neckline of "M" and continues to -60.
Strategy 2.
Sell when the Dow open down. Stop loss at the last high before market closed. Use sHs as buy and sell signals. If Dow gets above yesterday high switch to strategy 1. Count for five wave down.
 
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