Ewj: elliott wave

60min SPX with my favoured triple count on so people can see what I mean when I said move down in a C wave..

As Mike said on another Thread its been a great trading day...:D
 

Attachments

Wave .i covered 40% (250, 25, 50 points) of the expected 600, 60, 120 points :cool: which could be easily met if there were wave .iii-.iv-.v too :) .
If the Market is stronger than expected the move may be wave iv.ã and end just above wave .á to create another Bull Trap.
 

Attachments

I thought through several possibilities and felt that we could be in the midst of wave (4). If we are, then I am expecting a bounce into about 1306 next week.

a = 1277.26 - 1245.46 = 31.80

projected b = 1.382 x a = 43.95

actual b = 1277.26 - 1231.18 = 46.08

Also, we have not hit the usual 0.382 retracement (about 1306.23) for (3), so I think a bounce could be likely....
 

Attachments

I'm still looking for lower SPX target. We may go to SPX 1210-1216 first, rally nicely before we head to SPX 1170. There is a rally (great shorting opportunity ???) going on in the future market but it has stalled at the 61.8%. The rally has to break the 78.6% before I turned short term bullish which is SPX 1267. Have a great week trading.
 
You must log in or register to reply here.
Back
Top