Ewj: elliott wave

[Mup]

Quote from Mup:
Its rare that they will leave it floating in mid air above a gap with out a final run down...

I'm more tempted to lable it w-x-y rather than a normal triangle due to normal triangles(not ED's) being such rare beasts...

I'll have to change things around if it gets above 909 though.....
http://www.elitetrader.com/vb/attachment.php?s=&postid=2216249
30min ES

finally looking a little better

Feels like the "Bots" have been holding it while they adjust to the Dollar moves..

 

[mu200411]

Fifth time that touches the supporting trendline,
may be fifth wave of fifth wave too .
A good place to rebound from .

 

[mu200411]

elovemer,
I think it's a never-ending-diagonal-triangle .
mu.

Note:
We've just reached 5000 reply .
Edit:
Chart updated.
It looks like a 3-3-3-3-3 to me although not so diagonal, Mup .

Quote from elovemer:

....5 wave thing
....is this your end.diag. mu ?

 

[elovemer]

...unless this is some kind of ED .... descending triangle can represent distribution.....
..... could fall hard here....this last hour will be very telling.....

...edit...if buyers stepped in....it would surprise everyone

 

[Mup]

Quote from Mup:
Still like to see the 873/872 area get hit on the Z8/ H9
It ES H9 From today

[/i]

Getting closer

Gap close is @ 871.5 and the 1:1 just below around 869...

Well done Mu on the 5K mile stone !!!

 

[mu200411]

It turns into a Head and Shoulders now :eek: .

 

[Mup]

Quote from mu200411
It looks like a 3-3-3-3-3 to me although not so diagonal, Mup .

Normal Triangles are very rare beasts as Bolton pointed out... They're always my last labling option as 9/10 time the pattern always turns out to be a pesky w-x-y...

ED's need a sloping bias in the direction of the proceeding impulse move.. Ie if the proceeding impulse was up the ED needs to slope up, if impulse down ED needs to slope down...

Hope this helps

 

[Mup]

Did we just hit 872

Its nice to see the old "magic carpet" pattern still holding true...

1:1 or 50% would be ideal at 869 -867 area... If that holds expect a bounce if it dosen't then chocks away....

30min ES

EDIT yes elo, ...it seems a few of us were getting impatient & rolling our eyes waiting for the "bots" to step aside.... )

 

[Landis82]

Traded 868.73 SPX LOW before a bit of a 5-minute "bounce".

Stay tuned!

 

[Mup]

Handy that EW

Enjoyed today after that long wait on the magic carpet...

Pattern doesn't look the best for the bulls though....