Ewj: elliott wave

[Mup]

Quote from TraderRob:

, Goog, Aapl, getting hammered today and they have been the leaders.

As charted on this thread before it happend

Welcome Rob

This thread must be getting more Hits the chart download viewed numbers are above 3 now

 

[mu200411]

Five wave down. Landis may be right.

I'd better prepare to be stop out and short again if the last low was broken.

 

[TraderRob]

Mup, I am an "E Waver" very bearish on the market and holding S & P puts. I have found the dialogue and charts within this thread to be great!

 

[Mup]

If it gets back up above the 61.8% ( 1465.50) The bears who sold that last Alt @ 1469.50 with a 2 point S&R will get twitchy and start to cover some $$.

Below that 61.8% they will add & new lows are on the cards..

Good to see another EW Rob..

http://www.elitetrader.com/vb/attachment.php?s=&postid=1671847

 

[mu200411]

Critical Moment. Another 200,20,40 points down move in the making. If today low is broken.

 

[Mup]

It is a point Critical on the SPX

 

[mu200411]

A measured move up from here will bring us to Landis' target at 13220, 1468, 2820, which can be both Subminuette Wave iv or Infrawave iii.iii:iv.

Plan to reverse position near that target when there is a lower low. Set stop at the last high. Target 70,70,14 points down move or 250,25,50 points dip.

 

[Mup]

some Bears are covering, That wide spread is tring to trap them...They will try again though at the DT..

 

[Landis82]

Quote from Mup:

Bears are covering...

Yep.
But is this merely a (4) before yet another drop to the .618 level at 1149?

 

[Mup]

I'm Alway careful of wide spread bars they are designed to trap bears in (then to bail) and keep new longs from getting in at that price.

I agree that 1472.75 is key for a wave 4