Ewj: elliott wave

[Mup]

Quote from Mup:
Needs to get above 1145.5 to confirm the count...

Why 1145.5 some may ask..?

Its a ALT & 50%.....

120min Globlex

 

[elovemer]

...excelente....con queso :0)

Quote from Mup:
Just 1.75 off Mups 1113.5 target

 

[mu200411]

Wednesday high in the Dow, which looked like the fifth wave, should be explained by an Ending Diagonal.

 

[Mup]

I quite like chile con queso elo

 

[mu200411]

Congratulation, Mup .
The low is confirmed.

 

[QuangViet]

nice to see your geometrish view, mup

truncated wave 5 as expected, but if we look at globex intraday extend hours chart, then are there still another possible option

 

[elovemer]

.... got a small bull M ....
.... but still... a bigger one would be very nice .... maybe around october 11

Quote from elovemer:
...if the market is going to turn up....
... a bull M ending at end of month... below 1136 for 127% or 161% entry
.... would be a great way to do it....

 

[Mup]

Quote from Mup:

Just 1.75 off Mups 1113.5 target to complete a possable (B) wave...

off up into the (C) now which gives 1179 as a simple 1:1 target..

Needs to get above 1145.5 to confirm the count...
http://www.elitetrader.com/vb/attachment.php?s=&postid=2103077

240 Globex

Thanks Mu!
Cleared that 1145.5 so 1179 will do for an easy eyeball target for now...

 

[Mup]

Hi QV I see where you coming from.. with a wave iv..

I use the old school rule of thumb ,when a correction overbalances ( exceeds in price) a previous correction then we've changed degree. so in this case we've overbalanced the last ALT at 1145.5 so I have to step up a degree which rules out the wave iv option.

 

[mu200411]

The World Market had turned south as said.

Quote from mu200411:02-09-08 12:05 PM
B-B-P-C and BoE had done all they could.
ECB should do its share else the World Markets will turn south again.

http://www.elitetrader.com/vb/attachment.php?s=&postid=1785250