Ewj: elliott wave

[Mup]

This is the only real Bullish count I can find with a w-x-y*
going into the support area** to make a larger X.

* y being a triangle

**Quote from Mup:Next degree MM's on the SPX are around the 1467 & 1465 with a 50% just below.

]

 

[mu200411]

Set target near 13484, 1485, 2668 to reverse position when there is a lower low.

 

[mu200411]

Target reached wait for sell signal.

 

[mu200411]

Lower low near target. Close long position. Open short position. Set stop at the last high to reverse position again.
Set target at measured move = 13261.1591, 1461.15, 2622.

 

[mu200411]

Prepare to reverse position if the last high is broken.

 

[Mup]

Same on the INDU

Incorrect below that 13374 red line.

 

[Landis82]

Market grinding higher.
No one believes it.

 

[Mup]

Mup's charts did

I wounder how many other threads predicted this afternoons move up before it even happend...

Quote from mu200411 Long position entered.

 

[Landis82]

Quote from Mup:

Mup's charts did

I wounder how many other threads predicted this afternoons move up before it even happend...

Hee hee.

 

[mu200411]

Status.
Short position closed and long position entered when wave .iii:á was invaded, indicating an a-b-c correction not a 1-2-3 downward impulse. Long position closed and short position opened at double measured move and previous target of 13455,1487, 2688 at the close of the Market. Set stop at 13550, 1490, 2675.
Scenario 1.
Minuette 5)1.3:2 had ended in a descending triangle. Subminuette 5)1.3:3i is ending. Friday will go down as Subminuette 5)1.3:3ii to 13420, 1476, 2651.
Strategy 1.
Close short position at ended of Subminuette 5)1.3:3ii and open long position.