Ewj: elliott wave

[elovemer]

....looking at wed noon slot ... for a possible sell.... have to see later

 

[ed]

The SPX feels like it is in some sort of a b wave..... could be flat forming now (11.57am ET)?

 

[Landis82]

Quote from ed:

The SPX feels like it is in some sort of a b wave..... could be flat forming now (11.57am ET)?

Agreed.
5-waves up into the 101.65 SPY high.

By the way, the SDS and OIH are incredible ETF trading vehicles right now, especially the OIH.

 

[mu200411]

Is it possible to have a measured move DOWN 400, 50, 100 points from the last high ?

 

[mu200411]

This may be ed's full 5-waves up .
And the correction today as ed forecasted .

Quote from ed:10-14-08 04:09 AM

Seems like it morphed into a full 5-waves up instead of an ABC.

If it is so, then we should be seeing some correction tomorrow.

 

[ed]

Quote from mu200411:

This may be ed's full 5-waves up .
And the correction today as ed forecasted .

Mu,

It doesn't seem to qualify as 5 waves up in the SPX 60min candlestick chart:
w1 = 933.86 - 844.05 = 89.81
w3 = 965.22 - 892.56 = 72.66
w5 = 1043.95 - 950.96 = 92.99

w5 > w1 > w3

So I'm thinking the drop could be a bear trap...
:eek:

The downmove seems so "reluctant", unlike a w2 at all....

Sorry I cannot post any charts.... my charts are distorted as usual....

 

[mu200411]

So its a measured move DOWN of 400, 50, 80 points as expected .
What's next .

 

[mu200411]

Futures point to a lower start.
BUt at this point, there are equal chances of markets going UP or DOWN .

 

[mu200411]

Three legs DOWN is a bad sign :eek: .

 

[elovemer]

.....possible...
...weakness until 11.30am