Ewj: elliott wave

[Mup]

Quick weekly Scribble on USO...
Done the slightly more bearish ED wave 5 option....The alt is an extention shown by the blue i,ii....

 

[Mup]

6E (euro) also cought my eye...

Looks like an ED wave 5 could of just finished....It could at a pinch, be awkward and do another final high into the 1.61 area, if that last high was only the wave iii of the ED...

The minimum Downside target is the start of of the ED @1.52 area....

Daily 6E....

 

[mu200411]

"W" pattern in the U.S. economy confirmed.
Weak dollar boosting U.S. profits
The falling greenback has helped multinationals buck a slowing American economy.
http://money.cnn.com/2008/04/19/news/companies/dollar_earnings.ap/index.htm

Quote from mu200411:03-03-08 02:46 PM
Some fundamental support for a technical rebound.
High EUR/USD is good for US economy in the long run!

 

[Mup]

A Exp flat would catch a few TA traders out....?



120Min SPX

 

[mu200411]

The Market is not content with 70, 7, 14 points retracement.
Another small down wave will lead the 180, 18, 36 points retracement which should be enough, else wave .i may be invaded.

 

[elovemer]

w...
... made it to 88.6 %
...not a bad result

 

[elovemer]

gann
..... 1398 ... 0.25 ... 1379

.... 92.25 ... 81.5 ... 89.75 .... 79 ?

..... 92.25 .... 81.5 ... 84.5 ... 73.75 ?

 

[mu200411]

..done nothing, because the Markets do nothing.
Same analysis, same strategy.

 

[Mup]

Interesting pattern on the Globex...

Might need to finish of a C wave ....
1:1 comes in around 1372.75 area......

See what you think....

120min Globex

 

[mu200411]

Reverse Head and Shoulders pattern confirmation may be a good buy signal.