Ewj: elliott wave

Still could get one more leg down into the 1:1 @ 1311.25 area... ( 1306.75 Measured Move is the limit of the ED wave 5 ie W5=W3)

If it doesn't , then the bulls will all jump in on the break of the 1319.25..
 

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A chart of the Alts for the new posters on the Thread who might of not see Mups barmy Charts before...

Noticed we stoped on +7 , the first selling pressure Alt point... The bulls need to hold the lesser 61% pull back area from this alt to go up and test the next selling pressure points... If the carn't hold the around the 1314 area then the bears are still in Command...
 

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Nice pop in some of the glamour issues like BNI and LLL.

Chip sector is very strong after the NSM results yesterday after the close.

There is a decent "bid" in the market today. The dramatically lower opening in a lot of stocks was on ZERO volume. It was a head fake!

Not to be shorted.
 
Double bottom. Wave five = wave one. Rebound from here.
Or wait untill wave five = wave three, another -300, -30, -60 and bigger double bottom.
Two buying opportunities. But take care, cut loss early! :D
Crude Oil target $108 - $114, then down.
 

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Status.
Bought and cut loss at -200. Bought again at -300, -30, -60 as said. Close short "Long position" at +150 when there was a lower low. Hold long "Long position".
The entry may be 100, 10, 20 points higher and a wave less than it should be.
Strategy.
Bottom fishing. The majority is usually right about the Market until a point in time when the contrarian is right, then the majority rules again.
Enter short "Long position" if up. Close long "Long position" if down. Avoid short positions until .....! :D
 

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