Ewj: elliott wave

[elovemer]

bear W

 

[elovemer]

37.25 high and 27.25 low were BOTH projected by ABCD method
..... projected high was 37.25 ... projected low was 27
... but the actual low was 27.25
.... let's see if it holds ... OR NOT
...and the first 27.75 low was also projected by fib on the M pattern

 

[elovemer]

.....78.6% would correspond more closely to wolfe wave target than 61% would.....

 

[Mup]

Quick look on the Globex...

It needs break above that 11.5 1:1 measured move @ 1338 in order for the bears to step back... If it carn't get through that 1:1 then it means a Flat pattern and one more leg down...

120 min Globex..

 

[Mup]

Quote from Mup.. If it carn't get through that 1:1 then it means a Flat pattern and one more leg down...

Handy that EW

Possable ED pattern ???

See what you guys think....

15min ES

 

[mu200411]

ST long position closed after the Bull Trap.
LT short position closed at measured move Bear Trap.
Now no position.

This new low is not good for the Bulls.

 

[mu200411]

It turns out that the Market does not know where to go either.

Quote from bh_prop:

If it doesn't go up it may go down, Elliott wave at its finest

 

[Mup]

A closer look at that possable ED posted a little earlier...
http://www.elitetrader.com/vb/attachment.php?s=&postid=1884054

We could be still in the 3rd wave of the pattern..... with "a" wave being this mornings move lower & "b" this lunch move up. So we could get the C moving into the afternoon session to finish off the wave iii...

5min ES

 

[Mup]

Looks a little steep a retracement now for it to still be in the the 3rd??...more like a 4th? the ALt at 1336.25 is the key point... for the pattern...

15min ES

 

[Mup]

Might be getting somewhere now....Delta hints at down into the close unless we've had a crafty double inversion ie the last point and the frist points both invert...Today is an orange day which is cycle day 1

5Min ES