Ewj: elliott wave

[ed]

It appears there is very little doubt that we are in a Wave (4) correction.

Given the almost 160 points run-up in the SPX over the past 5 days, I thought it might be a little too fast to complete the full (4) so I'll add a little time wasting flat scenario in the SPX 90min

 

[ed]

And for the bears, it does look a little odd, but there's still a little room for that ED to play itself out in the SPX daily

Take your pick....

 

[Mup]

Agree ed on the wave 4 or ED..

On the ED though I've got a wave i where your iii is

Anybody been watching Gold... ?

This might scare the gold bugs... )
1:1 comes in around 597

240min GC #F

 

[ed]

Quote from Mup:

On the ED though I've got a wave i where your iii is

That would make a REALLY big ED!!!!:eek:

 

[ed]

The last ALT for the SPX was on Tues (Nov 25th) measuring 33.95.

The SPX has aleady broken below the ALT. Odds now favouring the downside....

Thanks Mup!

 

[Mup]

Wouldn't be that big ed )

Here's a 90min Chart of a 5th wave ED option going into that Bradley time pressure

 

[Landis82]

FYI:

Crude is off $3.20 and Merrill put out a downgrade on most of the Oil Service and Drillers this morning . . . OIH is off 10%.

 

[elovemer]

....POSSIBLE support on daily
...if so .... then it would be a bull hook...
...if not...then lots of air...

...edit... result of hidden weakness on holiday volume.... and bear W marked the top

 

[elovemer]

hidden part 1

 

[elovemer]

ed