Ewj: elliott wave
- Thread starter mu200411
- Start date
Quote from Mup:
Monsooning it down again...
Has anyone covered the triangle option ???
http://www.elitetrader.com/vb/attachment.php?s=&postid=2018877
120min SPX
Bears will be hoping for a yesterday's move completed an e wave of a triangle...
Mup, nice to see you Sir!
Great action in the oil patch the last few days . . . nice oversold "bounce" this morning just before the release of the Energy Dept. Inventory Report took oil back down to unchanged.
Drillers and Nat-Gas stocks up strongly off the opening . . . OIH bouncing.
I think that $118.00 in crude might just hold for a couple of days here.
Great action in the oil patch the last few days . . . nice oversold "bounce" this morning just before the release of the Energy Dept. Inventory Report took oil back down to unchanged.
Drillers and Nat-Gas stocks up strongly off the opening . . . OIH bouncing.
I think that $118.00 in crude might just hold for a couple of days here.
elovemer,
GM is going out of business before the 2020 forecast :eek: .
Mu.
Posted by mu200411 on 08-17-07 04:38 AM:
If he did, he would have a more optimistic view. He may forecasted that Cycle Wave IV would be equal to Cycle Wave II which dropped 43% from the January 1966 high of 1001.11 to October 1974 low of 570.01 or 50% or 61.8% (a fibonacci retracement).
So the end of Cycle Wave IV may be forecasted to drop 50% from ~10600 or ~14400 to ~5300 or ~7200 in 8 years. Cycle Wave V may be equal to Cycle Wave I and rise to 33,000 or 44,800 in 1949 + 71 = 2020, the time when oil reserve is very low. Boeing Co., Exxon Mobil Corp., General Motors Corp. and United Technologies Corp. might have gone out of business.
GM is going out of business before the 2020 forecast :eek: .
Mu.
Posted by mu200411 on 08-17-07 04:38 AM:
If he did, he would have a more optimistic view. He may forecasted that Cycle Wave IV would be equal to Cycle Wave II which dropped 43% from the January 1966 high of 1001.11 to October 1974 low of 570.01 or 50% or 61.8% (a fibonacci retracement).
So the end of Cycle Wave IV may be forecasted to drop 50% from ~10600 or ~14400 to ~5300 or ~7200 in 8 years. Cycle Wave V may be equal to Cycle Wave I and rise to 33,000 or 44,800 in 1949 + 71 = 2020, the time when oil reserve is very low. Boeing Co., Exxon Mobil Corp., General Motors Corp. and United Technologies Corp. might have gone out of business.
The EW "wavers" feel that we have concluded 5 waves up and its high time for a wave (2) pullback before really blasting higher towards the 1325 SPX measured-move target.
However, today's decline in crude oil and the supportive dollar continue to help bid the stock market.
Crude is currently off -$1.27 at 117.90
If the crude can reverse, I would hasten to say that the market will come under pressure and higher energy prices will be used as an "excuse" for a pullback in the SPX to lower fib levels.
Stay tuned!
However, today's decline in crude oil and the supportive dollar continue to help bid the stock market.
Crude is currently off -$1.27 at 117.90
If the crude can reverse, I would hasten to say that the market will come under pressure and higher energy prices will be used as an "excuse" for a pullback in the SPX to lower fib levels.
Stay tuned!
Quote from ed:
QuangViet,
I have no doubt we have been caught in a correction for the past 2-3 weeks. There are so many possibilities and it may be premature to conclude.
However, my preferred count could possibly be sharing the same view as you!
I believe there is room for a 1-2-3-4-5 up starting today.... and all these is just part of a big A-B-C correction. Chart should clarify.... and subject to change depending on how the market turns....
Elo,
Thanks for the software drawn charts.
If this trend continues and clears 1295, I am expecting about 1325 on the SPX before a downturn.... I'm watching closely.....