Ewj: elliott wave

[Mup]

Only a shallow mark down at the DT so the next degree triangle the ED might give the bears a gift on Monday..

15min ES

 

[mu200411]

Wave :2 count is still viable as long as the SPX is below 1274.
Wave :2 may end at 1257-1260.

 

[mu200411]

The target should be 1150.
But the Fifth Wave 4)c.5:5 might have been a wave five failure and the Worst was over.

 

[Mup]

Looks like the bears got their gift slightly early

 

[Mup]

Quote from Mup
Looks like the bears got their gift slightly early

Speaking of Gifts,

The Bulls could also be in line for one, if this sharp move down is a wave V of an ED

120Min Globex

 

[Mup]

This would be a cleaner count for the SPX due to the overbalance correction rule..

W-X-Y

120min SPX

 

[mu200411]

Looks like our 1150 target will be reached soon .

US Markets: Sep 15 6:36am † Change %Change Level
Dow -360.00 -3.14% 11,091.00
NASDAQ -47.00 -2.64% 1,732.50
S&P -46.20 -3.67% 1,212.30
http://money.cnn.com/data/markets/index.html

 

[Mup]

First test on the ES (1228-1230 area)

Needs to clear the 1:1 and 38.2% if it has any chance to go higher...

As usual ,if it carn't its new lows on the cards.

5min ES

 

[Mup]

Time wise today is 62 (61.8)cally days from the 15th July low, 34 from the 11 Aug high 13 from the 2nd Sept just to name a few...

It also the 3 low in a row so the Bears need to be a little careful with all this time & price pressure...

 

[Mup]

Quote from Mup:

Speaking of Gifts,

The Bulls could also be in line for one, if this sharp move down is a wave V of an ED

http://www.elitetrader.com/vb/attachment.php?s=&postid=2067835

120Min Globex

Looking better