Ewj: elliott wave

The "tone" of the market has changed. There seems to be a "bid" in the market and the SPX is able to rally WITHOUT the need for energy companies to participate.

This is a very telling characteristic.
 
.... looks like a failed 5th wave .... of that 3rd wave down.... to me....
.... still leaves room for a final bigger 5th to finish later ... above '02 low
 
Nicely done Mike
Handy those MM :D
And people keep telling me that the markets are not technical :eek: :D

elo, this move up could be part of an ED wave ii ( wave i being the move down from late Aug 1300 swing high)

The move down from late Aug ,would make a good case for the "To Far to Fast" rule of ED's...
 
Quote from Mup:

Nicely done Mike
Handy those MM :D
And people keep telling me that the markets are not technical :eek: :D

elo, this move up could be part of an ED wave ii ( wave i being the move down from late Aug 1300 swing high)

The move down from late Aug ,would make a good case for the "To Far to Fast" rule of ED's...
More...

Thanks Mup!
Can you share a longer-term chart of the ED "wave-ii" that you are highlighting?

:cool:
 
....that would be very nice mup....
...also... your 4 bars up on 2 hour chart worked very well before yesterday's open...
... i am glad i was listening when you mentioned it in chat room before...
...edit... also am watching for bull M down here....
... there was a smaller one (bear W) at last swing high on smaller time frame which i was late on....
Quote from Mup:
elo, this move up could be part of an ED wave ii ( wave i being the move down from late Aug 1300 swing high)
More...
 
I remember chatting about those bar patterns to help determine market direction from the pre-market with you & wiesman02. Glad you found it useful :)

I'm not in the office till later on today , I'm still on my week off...
I'll scribble that ED option out if I get chance later on.
 
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