Ewj: elliott wave

This market ALWAYS seems to push to the extremes . . . Thought we'd stop around 1408-1415 on the rally up and instead, we went ALL the way up to 1440.

Now, we see decent support at 1330 along with the .618% fib level around 1326/1327 and the market goes right through it to challenge the 1312 support level on the SPX.

Amazing how this market really pushes the EXTREMES.
:)
 
Worst Case Scenario.
We are looking down from the top of Grand Supercycle wave V], Supercycle wave V), Cycle wave IV (which began in 2000, 1990 in Japan), Primary wave b].
If the next rebound, c]1)3.4, from ending diagonal triangle, c]1)3.3:5iiiiiiivv, can not cross the resistance trendline, Minor wave c]1)3 may be confirmed by a low below March 17, 2008 low.
 

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Bull's Last Hope.
Many Bull's hopes have been shattered. This may be the last one.
Will the rebound from the ending diagonal wave 1.2:cv.i.ii.iii.iv.v, with possible additional wave .v, be able to cross the resistance trendlines?
Transport leads the way, NASDAQ is following, will S&P follow suit?
This rebound may be profitable day trade but not the one to hold until the resistance trendlines are broken.
 

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Feels like a lazy wave 4 kinda day...

Interesting pattern point the bears will be looking at that comes in @ 1326.5....(1:1 & 61.8)

5min ES...
 

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Everyone now seems to have the "standard Pretcher bear" 1,2,3,4 now in the 5th wave count...When having a quick look round the other board TA postings...

So Here's a different slant for the bulls, going into the FED :D....
 

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:D :D

Still not quite in the Bull camp myself just yet... But still not as bearish as the "worlds going to end" EWI counts..

I'm still leaning towards that 13 year traingle pattern, with this being part of the C wave we could lable a double 3 pattern. With a flat (w) folllowed by a Zig-zag (Y) ...
 

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