Ewj: elliott wave

Quote from ed:

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

http://www.elitetrader.com/vb/attachment.php?s=&postid=2161884
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After weighing a few options, I still favor this flat wave4 count. So right now, we could be in the middle of the "B" wave down before a "C" wave up to 1044.31.

SPX 120min chart
 

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If it holds that 940-939 area then we could get a lesser degree wave 5 back up to finish the wave set...

If it busts through that key area then odds quickly shift into the (B) wave is complet camp...

120min Globex
 

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Measured move target reached :cool: ,
although somewhat late :D (3 days) .
Symbol Last Change % Change High Low Volume Time
DJIA 9,058.27 +114.46 1.28 9,159.58 8,946.60 33,664,135 10:05 AM
NASDAQ 1,657.96 +10.56 0.64 1,680.67 1,657.96 189,817,100 10:05 AM
SP500 940.95 +9.96 1.07 951.95 936.75 n/a 10:04 AM

Edit:
This is a Fluke :eek: . We, EWers, don't expect this to happen frequently :D .
Quote from mu200411:11-07-08 07:42 PM

Looks like it wants to go UP :D .
Edit: 2:52 AM
Target 9170, 952, 1680 :) .
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Measured move now, continue going UP soon :) .
The updated target is 9355, 970, 1710 :confused: .
The Market is going UP as Wave 3)4.d:b as expected some days ago :D .
Quote from mu200411:11-07-08 09:57 AM
Yesterday low = 900.55 Bravo! for Landis :D :cool: .
This may be part of the Wave .d:b rebound, going UP to 9250, 958, 1710 :) .
Next will be Wave .d:c with a measured move DOWN to 8400, 850, 1550 :eek: , where there will be a triple bottom :confused: .
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Quote from Landis82:
900.00 ES = .618
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