Ewj: elliott wave

...once again... attempt at upper trend line of 30min channel .... and once again... failure...
.... possible weakness in first two hours thursday.....
.... a major flush out could be another drop to lower channel line.....
 

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Quote from ed:

The ED iii looks complete in both the INDU and the SPX daily charts.

An ED iv strong upmove tomorrow will confirm the ED. Would be a testing bull trap for many when ED v strikes...... :D
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795-800 is a strong trendline starting in 1929 and connecting in 87,we stayed in that channell for 65 years,as historically impressive as that may be,tl's get there power from being places where many people went long and short, and half of them were wrong and are happy to break even when it returns there,very few people have positions related to this trendline and after it bounces out of historical and crayonic respect,it will soon plummit, the interuptions and attempts to bolster this market are waning and the fall from here should be swift
 
...once again... attempt at upper trend line of 30min channel .... and once again... failure...
.... possible weakness in first two hours thursday.....
.... a major flush out could be another drop to lower channel line.....
 
A timely warning :cool: . It'd turned out to be Wave iii.iii:iii :) which went straight to 1:1 target :D ,
after the supporting trendline was crossed.
Not so friendly to the Bulls :) . Next target of iii.v may be 770 :eek: .
Abort if Wave .i is invaded. Not another pair of fractal patterns.
Quote from mu200411:

Another example of Fractal.
Wave iii UP versus Wave :iii DOWN :D .
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A less bearish count allows Wave 3)5 to be equal to Wave 3)1, about 2000, 200, 400 points long.
Wave 3) may end anytime from here to -400, -40, -80 points, then a 2 months rally back to where Wave 3)5 started :) .
No news to support this count :mad: .
 

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Quote from Mup

There is a big line in the sand on the Globex around 836..
We've had 4 attempts to hold it... I really needs to say above that 836 area otherwise that Gann 4 rule will be proved correct again..... "a failed 4th attempt is fatal"...

240min Globex
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Useful that Gann :)

Updated on the fatal 4th chart with the next two Measured move target points that come in around 766 & 726 just incase this move into the 775 is only a lesser wave 3...

240min Globex
 

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