Ewj: elliott wave

[mu200411]

Mup, Landis, elo, ed, ammo, pa(b)st, blnbr, bathrobe, stinkyfelix
Happy New Year 2009
mu.

There was measured move DOWN to near wave four as expected, then a higher high or a Buy signal.
There were many measured moves and alternative counts.
The Bulls can be happy as long as the Market stays above the red lines, Wednesday's high and Friday's close.

 

[mu200411]

The good news is 4)a-b-c may end at measured move ,
3)= 7449.3799 741.02 1295.48
4)a= 9026.4102 918.85 1602.92
4)b= 8364.0596 857.07 1493.45
4)c= 9941.0899 1034.9 1800.89,
or at wave four of a lesser degree ,
3)4 9653.9502 1007.51 1785.84,
or at any fibonacci ratio .
The bad news is Wave 4) can end any time from now .

 

[mu200411]

The Market has not decided which way to go .

Edit: 01-06-09 02:02 AM
Buy Signal .
Seems like the Market would like to go UP a measured move or two .

 

[ed]

Possible ED if the lines hold.....

SPX 30min

Edit:
Line broken.... will have to see how it morphs out. It could turn out into an even larger ED pattern

 

[Landis82]

Nice run up from Dec. 29th.

Meanwhile, every COAL stock has gone to the moon. Check out the charts of BTU ( Peabody ) and CNX (Consol Energy ) not too mention FCL ( Foundation ).

The Nat-Gas stocks ( and drillers ) continue to surge as well . . . APA and DVN, +15 and +8 points respectively!

 

[mu200411]

Monday looked like a corrective wave :eek: .
Dec 29 - Jan 2 looked like a five-waves pattern .
There may be one more measured move UP or two .
Or none .

 

[mu200411]

New high = Buy signal .
There may be a measured move UP .

 

[mu200411]

1-2-3-4-5 and a-b-c .
Next should be another 1-2-3-4-5 .

 

[mu200411]

1-2-3-4-5-6-7 .
Expect a new intraday high .

 

[Landis82]

Is anyone else itching to go short ( for a scalp trade ) right around these levels with a stop at today's highs?