Ewj: elliott wave

[mu200411]

Mup,
It can be a triangle or wave ii of a lesser degree.
Sometime it is better to use line chart than bar chart, especially for the Dow which has large daily range.
For that particular wave, I think it is Minuette Wave 4)c.3:4, so it has nothing to do with Minuette Wave 4)c.1:5. In line chart Minuette Wave 4)c.3:4 does not invade Minuette Wave 4)c.3:2 territory. Minor overlap of Bar chart may not be significant.
Mu.

 

[Mup]

Yes there's a few options

I know some EW'ers allow Overlap intothe "shadows" of the bars not the main bodys..

I'm still in the old school camp of no overlaps :eek: )
Hence I've had difficulty doing the 1,2,3,4's

Cheers Mup

 

[TraderRob]

Wow, could this market look any uglier? Er has already traded below yesterdays low, YM and Es are not far behind. Each rally from the Oct. 11 high is progressivly smaller/weaker. Yes the rally from the August low was not a perfect 5 wave count, but there is no denying that the decline from Oct. 11 has a "C" wave look to it. We will soon test the August low and iif we exceed it with good volume the start of the bear market will be confirmed.

 

[mu200411]

New low now. It can be Subminuette Wave 4)c.3:5v or Microwave 4)c.3:5iii.iii.
If today down wave is longer than Monday down wave it should be the latter, that is Microwave 4)c.3:5iii.iii or the Subminuette Wave 4)c.3:5iii extension.

 

[mu200411]

"W" pattern buy signal. Open long position, set stop at the last low. Set target at Wednesday high but ready to sell whenever there is a lower low.
Keep short position for a while.

 

[mu200411]

Long position stop out and re-entered.
Keep short position for a while.

 

[Landis82]

On the SPX:

1.382 x 63 points ( 1 down of "C" ) = 87 points.

1492.15 high of 4 of "C"

( a 65% retracement of 3 ) - 87 = 1405

Meanwhile, the 10 day simple MA continues down hard, coming thru 1458.00

 

[TraderRob]

Updated "Hard Core Bear" Count.

Good luck to all in their trading!!!

 

[mu200411]

"sHs" pattern confirmed, wait for a melt down.

Status:
Long "Short position" and short "Long position".
Scenario 1.
Crude oil $99, USD/JPY 108.23, EUR/USE 1.4814.
Futures -131, -18.40, -25.25 :eek:
Strategy 1.
Close short "Long position" at open. Keep short position.

 

[mu200411]

Tuesday up waves were overlapping so it could not be wave two and four of the same degree.
The chart shows one possible count. Today will be Infrawave 4)c.3:5iii.iii:iii which may be the longest wave in Subminuette Wave 4)c.3:5iii. A > -300, -30, -60 points day is possible again :eek:, but not inevitable.