Ewj: elliott wave

[elovemer]

...new ALT to watch on one minute
....edit... because last ALT was broken

....edit...this new one... could be broken as well....

 

[ed]

Quote from ed:

On the 10min SPX, it seems like a flat correction is taking shape since about 10.30am ET.

It looks like a very sluggish "b" wave climb before a "c" wave drop......

Heh.... heh..... silly me....

Really glad I have you guys to see alternate views!

 

[elovemer]

...looks like it could be forming the V now on this W .... with 127 % or 161% still the target....
..... edit... when i say "V" ... i mean V shape pattern.... on the W shape pattern
....edit.... let's go !!!
....edit....just want to let everyone know that mup's ALTS are helping me see the market more clearly.....
.... maybe they could help yous too

Quote from elovemer:
88.6% does not fit the equation

 

[ed]

Quote from elovemer:

...looks like it could be forming the V now on this W .... with 127 % or 161% still the target....

Given yesterday's huge run-up, a truncated fifth would be very nice.....

Edit:
V shape pattern comment noted. Thanks Elo

 

[elovemer]

....mup's last ALT ... gives the green light

 

[TT1]

955 spx is a .786 fib from 985 to 845

 

[Mup]

Quote from Mup

The 161.8% ext is around 958.5 on the ES would fit a w3 target..

Looks like elo has a 127.2% around there also on his chart...
http://www.elitetrader.com/vb/attachment.php?s=&postid=2150545
5min ES

Update
As long as the pull back is less than 38 than we can label it a wave 4 & we then go higher for the 5th... if it goes below that, then things change .. we just fip to an a-b-c count into the high..

If it corrects less than -17.25 the were going into an extended 3rd.. of a least 7 waves... with 977 being an eyeball on the es...

 

[Mup]

Quote from elovemer
....edit....just want to let everyone know that mup's ALTS are helping me see the market more clearly.....
.... maybe they could help yous too

Thanks elo,

Its suprising how the simple stuff works well to help with trend & degree...

 

[elovemer]

....on the one minute... the ground started to shake... just before it gave way

 

[Mup]

update

For the wave (4)

On a side note...

It doesn't have to go all the way to -38 ...always keep an eye on how it behavies around the ratio's such as the 61.8% & 78.6% of that last -38 ALT @ 932 of the 61.8% & 926 for the 78.6%..

Always easier if it goes go 1:1 but something to keep an eye on..