Ewj: elliott wave

[mu200411]

Do Trendlines work?

This week will prove whether Trendlines work or not!

 

[mu200411]

Short term resistance trendlines of the Dow, SPX and COMPQ are all broken now, wait and see what will happen next.

 

[elovemer]

....neckline on IHS touched at 20..... good.

 

[mu200411]

5)1.2:cv might have ended as a descending wedge near end of .1:a as expected. The Market is moving up as 5)1.3 to the target after the Bear Trap.
Status.
Short position was not opened at the Bear Trap due to divergence between the Dow versus SPX and NASDAQ.
Short "Long position" opened when the Dow re-entered the wedge.
Strategy.
Hold "Long positions".

Quote from mu200411:02-09-08 10:36 AM

Bullish Scenario 1.
5)1.2:cv ended as a descending wedge near end of .1:a.
The Market will go up another measured move to
4)c= 11645.0498 1270.05 2202.54
5)1.2:b= 12679.2197 1385.86 2408.22
5)1.2:c= 12105.1504 1321.0601 2280.27
5)1.3= 13139.3203 1436.8701 2485.95
Strategy 1.
Increase long "Long position". Trade counter trend.

 

[mu200411]

It seems as if Trendlines do work sometimes.

 

[mu200411]

The Market is at turning point again.
It can go up +300, +40, +100 to 12700, 1380, 2400,
or

 

[mu200411]

down -600, -50, -140 to 11800, 1290, 2180.

Status.
Short "Long position" reversed at target +300, +30, +60 and reversed again at support level.

Strategy.
Hold "Long positions" if open up.
Reverse short "Long position" if the last low is broken.

 

[elovemer]

....possible downturn on daily next week... after opex....
.... thursday and friday expecting small spreads up on low volume....
.... targets of 75 and who knows on friday.....
..... next week is the real test for bulls....

 

[mu200411]

Agree with elovemer.
Minuette wave 5)1.3:1 is coming to an end, may be near 12700, 1380, 2400 target. After some correction in wave :2 everyone will agree that this is a bull market because Minuette wave 5)1.3:3 will be the strongest wave of Minute wave 5)1.3.

Status.
Hold "Long positions".
Strategy.
Reverse short "Long position" near target when there is a lower low. Reverse again if the high is broken or after a 200, 20, 40 points correction when there is a higher hign.

Quote from mu200411:02-13-08 02:28 PM

The Market is at turning point again.
It can go up +300, +40, +100 to 12700, 1380, 2400,
or

 

[mu200411]

The Market had turn down -200, -20, -40 from resistance trendline. It may go up 500, 50, 100 points to 12700, 1380, 2400 level,
or