Ewj: elliott wave

Looks like the same double down play from the other week...

The ones who bought into yesterdays low are doubling down hoping for a runner..

Last time it happened they got a morning gap play before it was chocks away to the down side...
 
...CASH trying to break out of this channel

...edit.... on spy daily.... a bear flag looks suspicious.... as today's volume has now exceeded the volume of yesterday's flag pole....
 

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Well.... looks like today is a double zigzag correction day on the SPX 30min.

The SPX seems rather keen on retracing 50% of yesterday's massive drop.... and that'll be around 856 :)

Would be really looking forward to the "C" wave or Wave 3 drop once the retrace is done! :D
 
As usual I'm also on the bear bus ed , looking for a (C) wave :) )

EDIT just a spike below that 837 ALT ... makes the pattern a 3 wave structure with overlap though going into that 1:1 & 50% area
60 min es
 

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Thanks for the update Mup.

As usual, my charts go haywire whenever there is so much volatility.

Enjoy the rest of your evening! :)
 
....i see what you mean Mu....
....with tomorrow being an M day instead of a T day..... if it goes up it would suggest trend.
....on that big channel.... a return at least to the centerline of channel... would confirm the smaller W at least....

..edit...on 30 min... the cycle period i am watching ends around noonish wednesday....
.... my upper cycle put in a high early...
.... lower cycle.... may have put in a low early yesterday... just have to wait and see which way tomorrow....
...T day tends to have buying....so as Mup suggested.... it might just continue on down easily tomorrow....
...edit.... we have seenn these reverse HS fail so many times.... WHEN THEY want to fail.....

Quote from mu200411:
elovermer,
Fractal "failed small r-sHs pattern" may lead to "failed big r-sHs pattern" :eek: .
mu.
More...
 
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