Ewj: elliott wave
- Thread starter mu200411
- Start date
.
Quote from ed:
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!
Looks like Mr SPX has some very important unfinished business at the below address:
50% Retracement,
Fibonacci Street,
Postal Code 856
Quote from ed:
Looks like Mr SPX has some very important unfinished business at the below address:
50% Retracement,
Fibonacci Street,
Postal Code 856
The market acts well.
I'm seeing a lot of commodity type stocks bounce back up REAL HARD here and crude is finding a bid and climbing back. That will support the SPX "Big time"
Just traded 858.05 SPX.
If the SPX goes any higher, I'll have to jump ship!
Still looks like a double zigzag to me although the "C" wave is a little too strong for my liking. Busted that 61.8% retracement.
Would like for it to drop below 850.54 to "validate" that it is not an wave 3 up....
SPX 15min
Edit:
Correction, SPX has not busted its 61.8% retracement of Monday's drop yet. It stands untouched at 865.61.
Still looks like a double zigzag to me although the "C" wave is a little too strong for my liking. Busted that 61.8% retracement.
Would like for it to drop below 850.54 to "validate" that it is not an wave 3 up....
SPX 15min
Edit:
Correction, SPX has not busted its 61.8% retracement of Monday's drop yet. It stands untouched at 865.61.