Ewj: elliott wave

[elovemer]

....bottom of cash channel

 

[elovemer]

...is at next support line on daily
....edit.... with '02 lows broken.... this could get even more exciting
....volatility is good

 

[elovemer]

....this will NOT.... crash thru bottom of channel

Quote from elovemer:
....bottom of cash channel

 

[ed]

With the e mini Dow, Nasdaq and S&P futures all up about 4% (~6am EST), I think it is a good time to re-visit this updated ED picture.....

The ED v low would tie in pretty close with Mup's 726 and Landis' 732 as well....

SPX Daily

 

[mu200411]

Try to make a case for the Bulls .
Wave 3) had ended at the Maximun Drop = -490, -59, -71 :eek:
Now we are heading to where Wave 3)5 started .

Symbol Last Change % Change High Low Volume Time
DJIA 7,552.29 -444.99 -5.89 8,187.40 7,506.97 528,128,651 4:05 PM
NASDAQ 1,316.12 -70.30 -5.07 1,414.43 1,314.90 3,159,405,000 11/20/2008
SP500 752.44 -54.14 -6.71 820.52 747.78 n/a 11/20/2008

Quote from mu200411:11-20-08 08:27 PM

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 .

 

[Mup]

A lesser ED option into that larger 1:1 around 726

120min Globex

 

[mu200411]

Chose the wrong and too conservative MM .
Another MM may send the Market down another -400, -40, -80 points :eek: .
But the Market may rebount to yesterday high first .
8187, 820, 1414.

Quote from mu200411:11-21-08 12:08 AM

Next MM may send the Market down to 770.

 

[ed]

Mu,

Thanks for sharing both the bull and bear cases!

 

[elovemer]

....great work yesterday everyone.... thanks to all contributors :0)
...having lots of differing opinions is great

 

[ed]

Quote from elovemer:
...having lots of differing opinions is great

Elo,
You're perfectly right!!!!

That is the most special part about this thread! :eek: