Ewj: elliott wave

[Mup]

The OIH chart on why the we had the move back down to 108.50 from 113.50 on the intraday..

5min OIH

 

[elovemer]

....qqqq getting close
.... oct 11 getting close as well

...edit.... anyone for some double bottom action ?

 

[Mup]

Quote from Mup:
15min
http://www.elitetrader.com/vb/attachment.php?s=&postid=2110750

Looks like the "a" wave has finished now we need a "b" before the final "c" of the z

ED wave "c" into that key 1:1 area would be nice & no doubt make ed smile

Either way the EW & ALTs have kept us on the rightside of the market from the open !

15min ES

 

[Mup]

Got below that key 1000 level and with in 1 point on the ES day session of that larger 1:1

The was some short covering and buying on that same 15.45-16.00 bar so it wouldn't surpise me if some anouncement comes out before the open tomorrow..

Enjoyed today

 

[Landis82]

As of end of day Monday, 57% of the S&P 500 index was making new 52-week lows.

Must be an even higher percentage after today.

 

[elovemer]

....IF'n we can maintain weakness....
.... possible pivot point at 11.30am ....

 

[mu200411]

The Big Picture, the Cycle Wave IV.
Dow = Irregular Correction.
SPX = Flat Correction.
NASDAQ = Zigzag Correction.
Not too Far Away .

Quote from mu200411:10-06-08 06:31 PM
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 .

 

[elovemer]

.....not sure about the count... but looks a little like an ED on .... over 2 days.... for a fifth wave down today

 

[mu200411]

We are at round number in SPX and wave 3:1 ratio around 1.618. The 1000, 100, 200 point of wave 4 may come around soon .

 

[ed]

Quote from Mup:

ED wave "c" into that key 1:1 area would be nice & no doubt make ed smile

Quote from elovemer:

.....not sure about the count... but looks a little like an ED on .... over 2 days.... for a fifth wave down today

Actually I don't know whether to smile or to frown ...... but I am glad I had to step away from my desk 2 hours before the close yesterday.....

YM Futures was down 300+ then up 170+ then now down 230+ again......

Next SPX support I'm looking at is 974.45....

With the current speed of decline, I'm wondering how & why many are saying the market will bottom around 2012 or 2014......