Ewj: elliott wave

[Landis82]

You can sure say THAT again!
Time for some Guinness.
Mmmmmm....

 

[Mup]

Afternoon Short and Guinness

Could be called a traders "Depth Charge"

Nicely done & enjoy !

 

[Landis82]

Any comments on this chart from Trading Points, showing a "triangle" and the possible outcome?

 

[Mup]

Triangle could work. ( c' waves of tringles would normally use up a bit more time due to their usual complex alternation in nature)

What bothers me a little with that count is the move down labelled the "b" wave looks more like a five wave structure..

The five waves down would fit an "a" wave of a Zig-Zag pattern (iii of an ED) which would give the standard 1:1 target of "c=a" measured from b. ( labled point c on the that chart)

just a thought....

 

[mu200411]

Landis,
I thinks Triangular Correction is the most likely outcome and then DOWN.
Mu.

Quote from mu200411:10-14-08 10:56 PM
Wave 3)4 reaches target too soon, so it may turn out to be a Triangular Correction. .........

 

[mu200411]

A 400, 40, 70 points DOWN move, started just three minutes later .
Five waves down means there may be another 400, 40, 70 points DOWN move after some rebound :eek: .
Or this may be a a-b-c123 and there may be a 1050, 117, 210 points UP move, and turn out to be a Horizontal Triangle Correction.

Quote from mu200411:10-18-08 01:38 AM
Fifth subwave of fifth subwave of fifth wave :eek: .
May be some correction soon .

 

[elovemer]

....unless we break down here.....

Quote from elovemer:
.... 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

 

[mu200411]

Five waves DOWN, three UP, three DOWN, five UP .
The Market is choosing between a "W" pattern and a triangular correction.
Too much delay is not good for the Bulls .
Either line crossing may be a good Buy or Sell signal .

 

[ammo]

elo or mu,what does the big m in the 2 year spx chart tell ya?

 

[elovemer]

upside target.... either red trend line