Ewj: elliott wave

[ed]

Quote from mu200411:

Next lower low may be a Bear Trap at the Line of 50% Retracement :eek: .

Edit:
Note a measured move .
There may be no Wave v .

Mu,

Thanks for this warning!

Quite a battle at the SPX 830 region.....

 

[Landis82]

Is this the beginning of the "measured-move" down to 738.31 SPX in which (this leg down from the 877.86 high) equals the first leg down ( 943.85 - 804.30 )?

Or perhaps only a 61.8% ratio of Wave A thus targeting 791.62?

Stay tuned!

 

[mu200411]

The Bears won,
the battle ended at the Line of 50% Retracement, as expected.
There may be a rebound to 900 and 1000 as Wave 4)c , or
a continued DOWN move to Landis' 738.31 target .
Who will win this War ?
UP volumes lower than DOWN volumes.
"As goes January, so goes the year."
January 2008 -4.6% Year 2008 - 33.8%
http://money.cnn.com/2009/01/31/markets/sunday_weekahead/index.htm

 

[mu200411]

Sorry ed,
The low before the last low was not quite a Bull Trap ,
because the preceding rebound was larger than expected.
mu.


Next one may be and there will be a rebound from Mup's 813 to Wave iv .
Then there may be a measured move DOWN to Landis' 738.31.
The DOWN move looked impulsive now :eek: , because there was no rebound bigger than 23.6% .
An ED is forming .
Note the fractal spike and the big spike with 76.4% retracement.
Also note the interesting Fibonacci relationships.

 

[blnbr]

Mu, I think the bear-trap call you made was a good one for the short-term traders at least. Price went up about 10 points after you issued the warning.

Any one reads Glenn Neely’s book here?

 

[mu200411]

Thanks blnbr .
Glenn Neely's method needs less changes in the counts,
by allowing the corrective wave to go a long way in the trend direction.
mu.

 

[ed]

Quote from mu200411:
Sorry ed,
The low before the last low was not quite a Bull Trap ,
because the preceding rebound was larger than expected.
mu.

Mu,

There's absolutely no need for any apologies!

Have we forgotten only Mr Market is correct all the time?

Also, we're here to share and to learn isn't it?

 

[Mup]

Hi blnbr ,
The most useful aspect of Neely for someone like me who has a classical count style is the ratio work he did.

Speaking of which )

Here's a chart with some of the usual ratio suspects as Mike's already pointed out with the 61.8% ext and 1:1.

240min Globex...

 

[ed]

Just a thought......

SPX weekly

 

[Mup]

Tired to post this before but ET was having a hissy fit

Anyway just an example of those traffic lights again...

if it finds support around its 61.8% @ 813/814 area (ES) then its more likely to be a lesser b wave pull back from the alt..

5min ES