Ewj: elliott wave

[Mup]

120min Globex...

Target areas for an ED 5th wave...

1296 area is the 78.6% & 1289.75 is the gap close

 

[Mup]

On the SPX ,

1295.5 is the 78.6%

Also (C) would be 161.8% of (A) measured from (B) at that 1295.5 area...

60min SPX....

 

[mu200411]

Wave .v at measured move followed by a correction as expected , but the picture is not so good .
Wave .v was too swift and wave .á fell too deep. The second 5-waves is more like a c wave than a third wave. This may favors Mup's new low .
Too bad .

 

[Mup]

15min ES...

ED waves are always 3's so we need an a-b-c pattern to complete the 5th...

 

[Mup]

Quote from Mup:
15min ES...
http://www.elitetrader.com/vb/attachment.php?s=&postid=1972403
ED waves are always 3's so we need an a-b-c pattern to complete the 5th...

Looks like were in the minor 5th wave of the "a" wave...

 

[Mup]

Quote from Mup:
On the SPX ,1295.5 is the 78.6%
Also (C) would be 161.8% of (A) measured from (B) at that 1295.5 area...
http://www.elitetrader.com/vb/attachment.php?s=&postid=1972328
60min SPX....

Come with in a point of Mups first target area

Well see how it responds around this key 78.6% 161.8% ext just below @ 1295 area

 

[Mup]

CL is looking like its off into a lesser 3rd..

The best case for the bears is, that ,it starts to morph into an ED pattern...Otherwise the Bulls will be well in control with an Extended wave (5)...

Daily CL #F

 

[Mup]

Would not surprise at all, to see the Prechter Boys at EWI doing a "Sky falling in" 1,2,i,ii,1,2 count of an extended wave (3)... :eek:

I'll draw in on a chart below...

Hence the more reasons we may get a bounce from these levels once this final wave of the ED is finished...

 

[Mup]

A move back up followed by a lower low would be ideal for the Bulls...

15min ES

 

[Mup]

Now its gone 1:1 this is key....

120min SPX