Ewj: elliott wave

The alternate count zig-zag count.... Just incase this move down runs out of steam and doesn't take out that swing low of 957....

30min ES
 

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....bullish as long as it is above the biggest down channel.....
.... bounced on it at 985.5
...edit... you can see that big upper channel line on the "throw over" chart... as a light blue line

...edit... thanks mup :0) ... wondering where you were
 
Yes Throw overs should be a swift pattern.

Time wise the odds are moving into the zig-zag count..

I've just been taking it easy after that hectic last week :)
 
We have seen the beginning of the fifth subwave :5 of Wave 3)4.c :) .
This may end at measured move, 9800, 1040, 1820, as an ascending wedge or ending diagonal triangle, ED, near October 14th, 2008 high, as expected :D, or at any time :( .
Look out for the supporting trendline break, DOWN with a five wave pattern. After that wait for the Market to show whether it would like to have a new HIGH or a new LOW :cool: .
Also look out for the BIG "W" pattern confirmation which can send the Market UP another BIG MEASURED MOVE :eek: .
 

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It still appears a little cloudy to me whether the next move is up or down, so I took a step back and looked at the SPX weekly chart...

The best fit to me seems like we're in a 4 right now. If this is going to be a flat correction, then Oct 28th would only be the start of the "A" wave of the flat, so we could be stuck in this for a couple more weeks as it unfolds... :)

Some possible tentative targets for 4 could be :
0.382 = 1024.00
0.5 = 1079.21
previous 4 = 1044.31

Let's see how the markets welcomes President Obama! :D
 

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