Ewj: elliott wave

Hey TraderRob good to see your still around

You have the same count as the EWI crew :)

I'm still not that bearish as the lesser degree waves seem to subdivide into cleaner 3 wave counts hence more of a corrective pattern from the 2000 high such as a triangle, with this move down from July 07 being part of the C wave.

Bact to the short term time frame,the bradley is another reason (as Mike pointed out) together with some fib time hits that I made a note of the 9/10th time window :)
 
Needs to quickly clear that 1237.75 ( close out) area inorder to move up sharply..

If it carn't we'd expect a move back down for a 5th wave

120 Globex with the key 1:1 line in the sand
 

Attachments

....now right at ... left shoulder level from yesterday's close....
.....is it real.... or just a setup for a roll over later.....

....about indicators...
... if it goes up from here.... THERE IS indicator positive divergence here
.... on the DAILY CHART
.....if it rolls over.... then the divergence is meaningless
...23.5....22.5 shoulders....
Quote from Mup:
Needs to quickly clear that 1237.75 ( close ou
 
Handy those "tarffic light" Alts :)

Kept us on the right side of the market for the morning trade, once it was clear its wasn;t going through that 1237.75

Looks like 5 lesser waves down so it could very well bounce or turn into a flat as ed highlights ...
 
....if it goes ahead and bounces....
.... it will have bounced.... above 1216.5
..... that would be nice for wave 2 credence....this is getting interesting....
Quote from Mup:
Handy those "tarffic light" Alts :)
 
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