Ewj: elliott wave

...the measured move is about 88% on the rising wedge on daily....
....market has given two short entries so far on the daily....after the turn
...that measured move could provide a third...

...on daily... the all time high also ended in an ending diagonal on the daily... in case yous don't remember
Quote from Landis82:
1351 = .786
1337 = C = A
More...
 
Thanks, Mup.
Your "Flat correction" is a great help.
Mu.
Status:
Cut loss and reverses positions at open because the Market retreated from resistance level. ST short position closed at -300, -30, -50 as said. ST long position opened at Landis' and Mup's 61.8% c:a ratio at close, which may be the end of wave 1.2:cv.v:iii. There may be one more wave :v down.
Now hold LT short postion and ST long position.
Strategy:
Plan to cut loss on the ST long position if there is a lower low.
Close LT short position if 1.2:b.â territory is invaded or the resistant trendline is broken.

Why should I still be bullish?
Although the down move in the Dow looks impulsive, i.e., a series of three 1-2-3-4-5. The middle 1-2-3-4-5 is the shortest so it is not wave three. It can be subwave one of wave three which would take the Market much further down. A "running correction" may be the "Right Look".
The Friday Sell Off may be the Selling Climax of the Trapped Bulls, which is the characteristic of wave c.
 

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Quote from Mup:

When looking at timing Flat pattern's..

C wave should normally be equal in time with A wave or a ratio ext....

When both time and price square out...ie both are 1:1 we get these sharp moves....

In this case 9 120min bars each in time...(1:1) & 33 points in price each (1:1)...:)
More...
mup,thanks for the graphic,thats also a mp # if you take the weekly ytd and each week is 1 letter,the nip is 1334 on spx cash and 1300 on a h&s pattern
 
Bradley turn pressure came in over the weekend....(7th june)
Its one of the 3 most important (bold printed on the chart) turning points..(12/22/07 ,6/7/08 ,12/14/08)

The bears will say it came on friday and were down for the rest of the year as part of a Zig-Zag pattern..

The Bulls will be hoping it will form a low point (+/- a few days) of a wave B or 2, Then were up for the rest of the year in either a wave C or 3...

bradley2008.gif


http://www.amanita.at/e/faq/e-bradley.htm
 
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