Ewj: elliott wave

[mu200411]

Landis82,
This is Bear Count.
Mu.

Quote from Landis82:

Yep, 1378.70 SPX from Jan. 9th needs to hold in order to confirm your pattern, above.

 

[mu200411]

Status.
All position closed. The Market can rebound or tank 400, 40, 80 points from here in one or two days.
Bullish Scenario 1.
The Market rebounds from August intraday low or end of Minor Wave 3)4 to new all time high.
Strategy.
Buy if the August intraday low or Minor Wave 3)4 hold.
No fundamental support.
No Action, Talk Only from B-P-B.

 

[mu200411]

Bearish Scenario 2.
The Market is in the beginning of a Major Bear Market or Minute Wave IVc]1)1.3.
Minute IVc]5)5.5 may end at 2002 low or 1992 low.
Strategy 2.
Short all the way down. Long position as a counter trend trading from time to time.

 

[mu200411]

Cash versus Square Position:
Up or Down 400, 40, 80 points in one or two days.

Hold Cash:
Open position as futures point to at open. Market up/down 250,25,50 points then down/up 100, 10, 20. Reverse position twice then take profit at another 250, 25, 50 points rebound/tank.

Square position:
One profitable and one loss position. Take profit on the profitable position. Cut loss on the loss position at the target retracement.

 

[mu200411]

Chart for Up or Down 400, 40, 80 points.

 

[Landis82]

Watch the financial stocks.... they are rallying strongly and should pave the way for a nice bid in the rest of the market.

 

[mu200411]

Forget chart.

 

[mu200411]

Bullish Scenario 1.
Minute 4)c.5 is ending as a descending diagonal triangle.
Divergence in RSI and MACD.
And evening star is developing.
Strategy 1.
"Buy on the (rate cut) news, sell on the fact"

 

[mu200411]

Bearish Scenario 2.
Minuette IVc]1.5 is ending.
Strategy 2.
Close all short position. Open some long position for Minute IVc]c.2

 

[mu200411]

A perfect set up for Square position yesterday.