Ewj: elliott wave

[Mup]

Still feels like it wants at least measured move target of around 1535 area SPX (1545 ES).The lowest it can go while still keeping degree of a 4th wave of one higher degree is the 1518 (spx)

Option 2 ( my alt) is that the whole structure is an Ending Diag C wave from the 10th of september low.

Making a 1,2,3 count and this is a 4th wave of the ED. To hold that degree count 1544 is key on the SPX.

 

[mu200411]

Prepare to cover short at the next higher high and open long position. Set stop at the last low.

 

[mu200411]

Thanks Mup. I agree. It may ended as a descending wedge.

 

[mu200411]

Short covered. Re-enter long position. Set stop at the last low.

 

[Mup]

Thanks

I'm seeing "3's" all over the 5min frame, I'd be tempted to lable a-b-c then a " d " wave of a triangle pattern if the price gets back above the 1557level (es). ie price corrects more than the last correction of + 5.0 for a changing of degree.

 

[mu200411]

Long position stop out and re-entered.

 

[mu200411]

Scenario 1.
Minute Wave .2 has ended. Market jump 1000,100,200 as Minute Wave .3. Unlikely because too much short was opened. (daily close drop 150,15,30 may be too small for Minute Wave)
Strategy 1.
Hold on to long position. Begin to short after a 400,40,80 points rise.

Scenario 2.
Minute Wave .2 is showing Subminuette Wave .2:cii and is going down as Subminuette Wave iii,iv,v today to get a total daily close drop of 400,40,80 points.
Strategy 2.
Close long position. Open short position when there is a lower low. Future points to a gap downward so sold short at open. Set stop as appropriate.

Thanks Mup. Because of the 3's it looked more like a corrective wave of down trend than impulse wave of uptrend, may be expanding wave c of some degree.

 

[mu200411]

Short position opened, set stop at the last high.
Hold long position, to be close below Monday low.

 

[mu200411]

Long position closed.

 

[mu200411]

Has the Market completed Minute Wave 5)1.2?

Minute Wave 5)1.2 is
14197.3701 1576.09 2833.74
13880.1797 1536.88 2759.4299
317.1904 39.21 74.3101
points long. Is it completed yet?

Scenario 1.
Minute Wave .2 has ended. Market jump 1000,100,200 as Minute Wave .3.
Strategy 1.
Close short position and open long position at a higher high. Begin to short after a 400,40,80 points rise.

Scenario 2.
Minute Wave .2 is showing Microwave .2:ciii.ii and is going down as Subminuette Wave iii,iv,v today to get a total drop of 400,50,90 points.
Strategy 2.
Hold on to short position. Close short position at target and open long position when there is a higher high.