Ewj: elliott wave

[mu200411]

Prepare to stop out and quit for today if there is a new high.
Long position still intact.

 

[mu200411]

No news is good news.

If the Market is satisfied with yesterday correction it may move up another 400, 40, 80 points in Minute wave 5)1.1 or 5)1.3.:eek:
If not the Market should open in negative territory which is not the case because Futures point to a strong opening.

Our EWMTer is maintaining a long position and looking for an opportunity to trade a Minute Wave correction (100-200,10-20,20-40 points).

Strategy for today.

Drift up happily with the Market.

There is a non-profitable shorting opportunity at 13810, 1521, 2690 which only a really bad news can turn it into a profitable one.

 

[mu200411]

Market stalls. Short if there is lower low, place stop at last high.
Just for fun.

 

[mu200411]

Non-confirmation. Better stay put.
Dow sideways, S&P down, Nasdaq up.

 

[mu200411]

The Market is dragged down by its own weight without supporting news, good time to consider short.

 

[mu200411]

Sell short at next new low.

 

[mu200411]

S&P follows NASDAQ up, quit for today, no opportunity for a short.
Long position intact.

 

[mu200411]

Another opportunity for short arise.
Short if there is a lower low.

 

[mu200411]

Short position placed for a triple top pattern. Set stop at previous high. Target at equal leg, but wait for a Head and Shoulders pattern to develop, to get a larger target gain.

 

[mu200411]

Nearly stop out now, if it is not an ascending wedge.