Ewj: elliott wave

Came down and bounced off the 91.00 low made around 2:37pm Eastern.

Hard to believe that we won't re-test that level and perhaps break it down to a measured-move of 1.40 which would target the 90.60 area.
 
The waves had unfolded slowly as expected :) .
After Wave 4)c.c:3iv ends there may be a measured move UP to
9180, 928, 1622 or 9450, 955, 1676 as the end of Wave 4)c.c:5 :D .
Quote from mu200411:
Yesterday waves might be Waves :3i,ii,iii,iv after Waves 4)c.c:1-:2, so there may be another MM to 9180, 928, 1622 :) ,
a set back, and another MM to 955 as the end of Wave 4)c.c:3 or Wave 4)c.c :D .
More...
 
Quote from Mup:

Try again with GC #F....:)

To early last time....

Gold futs has a large 1:1 around $878 area for the bears to attack... Above that then were impulsing, and new highs must be considered, so a nice line in the sand to work with...
http://www.elitetrader.com/vb/attachment.php?s=&postid=2225246
240min GC#F
More...

Update on GC

Two attempts at the 878 area....Everybody they roll out on the TV networks is bullish gold, 1500 -2000 seems to be their outlook...

So it would catch a few out if it starts to move down...
 

Attachments

XOM seems to be where some of the Long only funds have been hiding out...

However the long term delta hints at XOM needs to go below its OCT 08 low of $56 bucks

Just need to finish off this lesser ED C wave to complete the larger degree (B) before its off in the (C) to below $56 as a minimum...

See what you think :)

240min XOM
 

Attachments

January crude oil just collapsed into the close of trading at 35.50 and DOWN $3.60
The contract is about to expire.
February oil is up in the $44 handle.

It's taking the OIH and the SPX with it.
:eek:
 
Just checked again on XOM and yesterday was a 144-89-55 Fib trilogy...

So maybe (dare I say it):eek: a triangle (B) would be the better finishing count....

Still gives below that 56 bucks target with the 1:1 around $44.... Below that $65 swing low will confirm a higher delta frame is in....

240min XOM
 

Attachments

You must log in or register to reply here.
Back
Top