Ewj: elliott wave

[mu200411]

Status.
Short position closed and long position opened after the Bear Trap when there was a higher high that broke resistance trendline. Long position closed and short position opened at "W" pattern target and fifth wave count near yesterday high when there was a lower low.
Bullish Scenario 1.
The Market is going up as 5)1.3 which has showed subwaves 5)1.3:1i-ii and 5)1.3:1iii.i-.ii
Sideways Scenario 2.
The Market is going up as 4)c.d:c which has showed subwaves 4)c.d:ci-ii and4)c.d:ciii.i-ii.
Strategy 1 & 2.
Close short position and open long position.

 

[mu200411]

Bearish Scenario 3.
Minuette 4)c.3:4 ended as an irregular correction. The Market is going down as 4)c.3:5 which may be equal to :1 and :3 which are about 400, 50, 110 points long. The present wave is 4)c.3:5iii.iii.
Strategy 3.
Close long "Long position". Open short position.

 

[mu200411]

Targets for Up move.
4)c.3:3iv=13300.3496, 1464.42, 2609.73
4)c.3:5i=13146.79, 1445.3101, 2587.04
4)c.3:5ii=13282.0596, 1460.3199, 2608.77
4)c.3:5iii.iii=13199.6299, 1452.34, 2600.3601

MeasuredUP1=13334.8995, 1467.3498, 2622.0901
MeasuredUP2=13354.4892, 1474.0801, 2642.78


Target for down move is another 300, 40, 90 points to 12866, 1410,2493.

Last time I didn't believe the MACD buy signal, this time I'll try following MACD sell signal.

 

[elovemer]

..... and even more possible now... :0)

Quote from elovemer:
...looks like another 5 waves down .... after the 3 waves up ... on the daily ....
.... is still possible......

 

[mu200411]

"M" pattern completed at double bottom. A good place to enter long position but rebound is to short 50, 5, 10 points.

 

[mu200411]

It's time to close long position now because there is a lower low at target 50, 5, 10 points.

Edit.
The market is going down another 100, 10, 20 points.

 

[mu200411]

Plan to reverse position if yesterday high is broken.
Plan to hold the short position to target if the Market is down.

 

[Landis82]

Again, I would not be short this market if you held a gun to my head!

 

[Landis82]

PREMIUM building in the S&P's heading into the 4:15PM close.

This is a sign for what is in store for tomorrow with "Triple-Witch" from the Big Boys!

Much maligned Morgan Stanley and Bear Stearns up strongly today.

Love the RIMM earnings too!
(+$17.00)

Cash close: 1460.12

DID I MENTION HOW I WOULDN'T WANT TO BE SHORT THIS MARKET EVEN IF A GUN WAS HELD TO MY HEAD???

 

[mu200411]

Status.
Still hold short position. :eek: Missed the "long" boat. It was bigger than I thought. (Should have followed Landis's advice! )
Bullish Scenario 1.
Subminuette 5)1.3:1ii is a triangle. The Market is going up as 5)1.3:1iii after Microwave 5)1.3:1iiå ends.
Sideways Scenario 2.
Minuette 4)c.d:b is a triangle. The Market is going up as 4)c.d:c after Subminuette 4)c.d:bå ends.
Strategy 1 & 2.
Close short position and open long position after the upper trendline is broken. Allow for some overshoot.

Targets at
Measured UP1=13334.8995, 1467.3498, 2622.0901
Measured UP2=13354.4892, 1474.0801, 2642.78
Note.
Both targets were almost touched by NASDAQ.