Ewj: elliott wave
- Thread starter mu200411
- Start date
Well, I've got some support at 1369 and 1365 like everyone else in the World. Got fairly close today when the market was at the lows of 1370.12
"A" down ( from 5/19 ) was roughly 67 points into the low of 5/27 before a 3-day counter-trend rally took it back up to 1406.32
The following measured-moves would give us objectives for a "C" wave target of:
1372.74 = .500
1364.81 = .618
1339.15 = C = A ( equal measured-move )
After this, a 183 point rally ( or fib ratio of which ) would be in the cards, no?
"A" down ( from 5/19 ) was roughly 67 points into the low of 5/27 before a 3-day counter-trend rally took it back up to 1406.32
The following measured-moves would give us objectives for a "C" wave target of:
1372.74 = .500
1364.81 = .618
1339.15 = C = A ( equal measured-move )
After this, a 183 point rally ( or fib ratio of which ) would be in the cards, no?
...very nice mu.....on your trade
....big daily spy volume tue/wed .... was the clue of accumulation
....tue ... massive vol despite finish well off low
...wed ... still big vol despite inside day and doji
...i have found that reading volume on daily is much more reliable when using spy rather than ES contract
....big daily spy volume tue/wed .... was the clue of accumulation
....tue ... massive vol despite finish well off low
...wed ... still big vol despite inside day and doji
...i have found that reading volume on daily is much more reliable when using spy rather than ES contract
Quote from mu200411:
Status:
Sold at resistance trendline and bought back at support.
Strategy:
Sell if fall. Hold if up.
NASDAQ may lead the way.