Ewj: elliott wave

[mu200411]

Thanks Mup ,
Mu.
Nine big banks to get $125 billion => DJI future rises 300 points :eek: .
Will the momentum sends the indicies to wave 3)4 target ? Or it is short life .
http://money.cnn.com/2008/10/27/news/economy/treasury_bailout.ap/index.htm

 

[elovemer]

...one minute

...edit........888...127%...

 

[Mup]

Quote from Mup

Futures seem to be hinting at the wave iv for the cash market..

http://www.elitetrader.com/vb/attachment.php?s=&postid=2146105

120min Globex

Handy that EW

Kept us on the right side of market direction this morning..... (hinted at last night)
We need 3 waves to make up a iv (a-b-c)
889 area is the 38.2% (globex) that could be good eyeball for an "a" wave...

Update

 

[elovemer]

...one minute.....update...

... could still....fail...or not

 

[elovemer]

...mister.... that's four up bars on 2 hour chart.....

 

[elovemer]

...possible count

 

[Mup]

Quote from Mup
889 area is the 38.2% (globex) that could be good eyeball for an "a" wave...
Update

Reached the first target

And as elo points out they maybe a bar swing point going into it

Needs to correct more than the last Alt of -18.5 to confirm were in the b....

If 880 gets busted then the odds go firmly move into the b wave count, but conversely if it holds then 1 more pop up carn't be discounted..

 

[elovemer]

.....last ALT ?

 

[Mup]

Thats the one...

If that ALT lets go we can rule out the triangle pattern hence the EW traders will go fully into "b" wave mode so the move will get sharper...

If it holds they will all jump back aboard the triangle option for one last pop up... We just go with the traffic lights... with maybe a mix of delta

 

[elovemer]

....possible count....
....end of 4th ?