Ewj: elliott wave

[Mup]

Quote from Landis82:
Bipartisan "bail-out" agreement reached for the auto manufacturers. Money must be coming from the Energy bill.[/i]

Handy that EW we had the move before the news .. )

http://www.elitetrader.com/vb/attachment.php?s=&postid=2186439

 

[Mup]

Got to that ALT

Key area for a run back down....

5min ES

 

[Mup]

First target on the way back down is the lesser ALT on the way up....

It comes in at 797.5 also with a 50%... if that holds then the bulls will have another shot at a new high...

If it busts it then its good night irene...

 

[ammo]

Quote from Mup:

Thanks elo...

Its a good example of those (1:1) measured moves again..

ATL back up comes in around 818.5... Below that ALT business as usual for the bears .... Above then things are changing...

60min ES

so mup, elo, and mu, the blue line is an ed and big res ,doo i have it right

 

[Mup]

Bit of Delta...

if a higher frame is in then price needs to trade be low that last swing low point of 785....

However today is an Inverson point so if it fails to go below that 785 then its saying the point is not in and we could morph onto a larger a-b-c to get one more high..

5min ES with that possbale morphing if the delta inverts...

 

[Mup]

The Blue line as in the Measured Move into 775 ammo ??

 

[ammo]

mup, u posted a chart in a 9:47 post with a blue line, i was asking if that was an ending diagonal (ed)

 

[Mup]

It could be part of one yes

 

[Mup]

We right in that inverson zone now.... so a c wave could be on the cards if it can not close out that 785... Could get pushed to the 1;1 @ 775 below that then the inverson looks less likely

5min ES

 

[ammo]

thanks,paulson speaking,may go lower,speaking on the banks lending, he said IF they play their role, bearish