Ewj: elliott wave

[ammo]

mup,we need something to push this mrkt up,maybe that will be it

 

[Mup]

On the Monthly SPX

I still like the triangle wave (iv) option as its uses up time going into 2013.

People have seen me scribble this triangle count on the weekly but here it is on the monthly to put it in context..

 

[ammo]

andy over at www.ptv-investing.com has 10/10 - 10/13 as ending of major ew,gann cycle

 

[Mup]

Personnally I'd like the time pressure to be just a little bit later around the last week of Oct.. We get a 34,55,89 fib trilogy which is always worth keeping an eye on..

Price wise we get a 1:1 and a 61.8% around that 1070 area..

If that area holds we could see a 4-6 month rally for a (B) wave back upto the 1300 to 1350 area.

If it can not hold the time and price pressure then the odds greatly favour a continued move down till April 09..

Weekly SPX

 

[Mup]

The More bearish option that gives the continued move down till next year..

Weekly SPX

 

[elovemer]

.... i have bottom of channel around 1030....

 

[mu200411]

This down wave is very strong because it is the third subwave of the third wave, i.e., Minor Wave 3)3 :eek: .
See you at Dow 7197, SPX 768, NASDAQ 1108 .

 

[mu200411]

At this point we are expecting a 110 points rebound .
The problem is when and from where .
May be 1165 is a good starting point

 

[ed]

Mu & Mup,

Thanks for sharing your views so early over the weekend. I've been thinking through some of the options and still felt that we could be in an extended wave 5 of 3 now in the SPX.

I'm still trying to find a way of projecting targets I'm comfortable with, but in the meantime, if we are indeed in an extended wave 5 of 3 (see http://www.elitetrader.com/vb/attachment.php?s=&postid=2097523),
then I'm looking at a wave 4 starting about 1023 with the full wave 3 down hitting about 960 on the SPX.....

 

[Mup]

Could very well be ed

As for targets if it is a wave 3 then the 161.8% of wave 1 measured from the w2 high is always a good first eyeball target which is around 922 . ( as shon on that last chart of mine http://www.elitetrader.com/vb/attachment.php?s=&postid=2106337