Ewj: elliott wave

[ed]

Voting has just begun......

House vote achieves necessary votes to pass... current vote tally at 239 yea, 156 nay

 

[mu200411]

Bad sign . +300, +39, +70 -> +114, +19, +33.
Looks like a five waves pattern with an outsize wave four again :eek: .

 

[mu200411]

Now +39, +8, +4.
What's happened . The House rejects the bill again :eek: ?
No! House passes bailout
After a week of wrangling, lawmakers give final approval to historic $700 billion bailout
By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: October 3, 2008: 1:37 PM ET
http://money.cnn.com/2008/10/03/news/economy/house_friday_bailout/index.htm
SELL ON GOOD NEWS .

 

[Landis82]

Buy the Rumor.
Sell the News.

Sell the Pops.
Buy the Drops.

 

[elovemer]

..... the run up .... threw me off....

Quote from elovemer:
...
...if it can hold here... could set up for a buy tomorrow on penetration of today's lows

 

[Mup]

Would of liked a spike upto that 1:1 level for a clear cut C wave for a sell back down for a new low instead the 78.6% stoped the move.

At the moment it still is full of 3's

This is the most consertive of the options...
1102-1 is the next 1:1 target point..

240min ES

 

[Mup]

Interesting option on the INDU going back to the 1932 low..

Bears will see a Super Cycle Degree wave (iv) in the making...

Wave four's like to find support at the previous degree wave four's so 7000 is on that cards if thats the case..

See what you think on a Monthly INDU

 

[Mup]

I was debating should I post this chart or not...

Here's a larger degree 1:1....

INDU Monthly...

 

[ammo]

no matter how ugly the chart ,thanks for posting

 

[Mup]

Thanks ammo,

Here one for Crude oil (CL)

Monthly (log scale) CL #F