Ewj: elliott wave
- Thread starter mu200411
- Start date
All three indices hesitate at resistance levels. NASDAQ has reach 70 points target. INDU and S&P fall short of the 350 and 35 points by 80 and 5 points.
Wave .iv may have begun and may be 70, 7, 14 points long or may end at wave :iv of a lesser degree.
Wave .v may be 300, 35, 80 points long and end at 13130, 1418, 2480 which is near Landis' target of 1415.
Wave .iv may have begun and may be 70, 7, 14 points long or may end at wave :iv of a lesser degree.
Wave .v may be 300, 35, 80 points long and end at 13130, 1418, 2480 which is near Landis' target of 1415.
I'll take a look Mike 
Not Technical at all this market !!
We could morph into a w-x-y to use up some "time" but the simple 1:1 a-b-c is always worth taking a note of...
Quote from Mup
5 waves up into a 161.8% ext to tic of wave 1 on the Globex ....
5min ES http://www.elitetrader.com/vb/attachment.php?s=&postid=1889298
Not Technical at all this market !!
We could morph into a w-x-y to use up some "time" but the simple 1:1 a-b-c is always worth taking a note of...
Thanks elo !
EW is worth the time & effort getting to grips with its idiosyncrasies...
Admittadly its harder than just sticking an indicator a the bottom of a chart and waiting for overbought/sold, divergence, crosses ect...ect...or what ever people do with them...
Elliott, combined with Delta, (which is also a reflection of EW) is a powerfully predictive tool to have in ones arsenal ....
EW is worth the time & effort getting to grips with its idiosyncrasies...
Admittadly its harder than just sticking an indicator a the bottom of a chart and waiting for overbought/sold, divergence, crosses ect...ect...or what ever people do with them...
Elliott, combined with Delta, (which is also a reflection of EW) is a powerfully predictive tool to have in ones arsenal ....
....the trend is up ..... 10 min chart
... for strength ... you want to see lower volume on the down bars....
.... all the down bars with a little circle above them have lower volume ... strength
.... now look at the 4 sets of bars with color .... 3 sets of green and 1 set of red...
....all the green pairs have .... higher volume on the down bar .....
.... weakness ?
.... no strength.... because the following bar shows that there was more buying than selling in the down bar .... hence ... up
..... now look at the red bar just before the last two bars of the ED... it has a blue circle above it
.... usually it would represent strength because of the lower volume and small price spread
... but in this case... it represents weakness because it is a higher high
... this sets off a flag for weakness in the following bars.
.... so in the next two bars... you have higher volume up bar follwed by lower volume down bar....
.... first we see the up bar on higher volume .... and we put a question mark
... strength or weakness... in light of our flag.... we guess weakness ....
which is confirmed by the down bar....
... the volume of the up bar contained some selling... and this is shown in the large spread down bar which follows it and takes price out of the wedge pattern....
.... sorry for the long-winded intrusion here .... just thought it might be helpful for the next Ending Diagonal which shows up ....
... for strength ... you want to see lower volume on the down bars....
.... all the down bars with a little circle above them have lower volume ... strength
.... now look at the 4 sets of bars with color .... 3 sets of green and 1 set of red...
....all the green pairs have .... higher volume on the down bar .....
.... weakness ?
.... no strength.... because the following bar shows that there was more buying than selling in the down bar .... hence ... up
..... now look at the red bar just before the last two bars of the ED... it has a blue circle above it
.... usually it would represent strength because of the lower volume and small price spread
... but in this case... it represents weakness because it is a higher high
... this sets off a flag for weakness in the following bars.
.... so in the next two bars... you have higher volume up bar follwed by lower volume down bar....
.... first we see the up bar on higher volume .... and we put a question mark
... strength or weakness... in light of our flag.... we guess weakness ....
which is confirmed by the down bar....
... the volume of the up bar contained some selling... and this is shown in the large spread down bar which follows it and takes price out of the wedge pattern....
.... sorry for the long-winded intrusion here .... just thought it might be helpful for the next Ending Diagonal which shows up ....
elovemer
Thanks for the detail volume analysis.
Mu.
Higher volume means continue of trend. Lower volume foretells the change in trend.
So wave 3 is usually the wave with greatest volume, when wave 5 comes with a lower volume we know that a retracement will follow. If wave 5 comes with higher volume the retracement may be an irregular correction.
Our wave :1 rose with decreasing volume
, for our wave :3 to be confirmed there should be higher volume next week.
Thanks for the detail volume analysis.
Mu.
Higher volume means continue of trend. Lower volume foretells the change in trend.
So wave 3 is usually the wave with greatest volume, when wave 5 comes with a lower volume we know that a retracement will follow. If wave 5 comes with higher volume the retracement may be an irregular correction.
Our wave :1 rose with decreasing volume
, for our wave :3 to be confirmed there should be higher volume next week. INDU, S&P, NASDAQ and TRAN charts look like confirmed Reverse Head and Shoulders patterns. Target may be as followed.
April 18th, 2008
4)c.5= 11731.5996, 1256.98, 2155.4199
:1= 12733.6602, 1386.74, 2391.9299
:2= 12270.79, 1324.35, 2266.29
:3?= 13272.8506, 1454.11, 2502.8
.i= 12625.0498, 1365.49, 2352.21
.ii= 12567.4004, 1357.25, 2327.6499
.III?= 12921.6602, 1398.39, 2413.5699
.iii= 12893.7305, 1395.9, 2412.6299
.iv= 12812.5596, 1386, 2397.0601
.v?= 13138.8897, 1424.65. 2482.0401
Wave .iii falls short of the target so wave .v should be shorter than wave .iii unless wave .iii is an extended wave which will make it about 2.618 times as long as wave .i. :eek:
Strategy.
Reverse ST long position at the target that is followed by a lower low . Hold the LT long position to wave i.v 
.
April 18th, 2008
4)c.5= 11731.5996, 1256.98, 2155.4199
:1= 12733.6602, 1386.74, 2391.9299
:2= 12270.79, 1324.35, 2266.29
:3?= 13272.8506, 1454.11, 2502.8
.i= 12625.0498, 1365.49, 2352.21
.ii= 12567.4004, 1357.25, 2327.6499
.III?= 12921.6602, 1398.39, 2413.5699
.iii= 12893.7305, 1395.9, 2412.6299
.iv= 12812.5596, 1386, 2397.0601
.v?= 13138.8897, 1424.65. 2482.0401
Wave .iii falls short of the target so wave .v should be shorter than wave .iii
unless wave .iii is an extended wave which will make it about 2.618 times as long as wave .i. :eek:Strategy.
Reverse ST long position at the target that is followed by a lower low
. Hold the LT long position to wave i.v .