Ewj: elliott wave

The 1275~1276 region in the NDX (Nasdaq 100) marks an interesting confluence of 1:1 and 1:0.886 ratios.

It will be a very interesting area to watch for a chance for the bears...

Will try to post a chart later if I can..... :)
 
Quote from elovemer:

...watching that 860 on bearish W ... for a sell....
More...

We're right there as of 10:15 AM EST.
860.33

EDIT: And just dropped below 857 ten minutes later.
 
Shorts are running for cover ahead of Geithner's upcoming TARP plan to be announced on Monday.

Could also "relieve" the mark-to-market accounting rule.
 
Fifth wave near measured move; 0, 5, 10 points away :) .
There may be some set back of 80, 8, 16 points :(,
before another measured move UP :D .

Edit:
Chart updated.
Thanks Landis for the answer why the Market is going UP :) .
 

Attachments

Quote from ed:
Inspired by Mup...... :)
1:1
SPX daily
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Quote from Landis82:
I think that this count would catch a lot of people "out".
Good thing that Mup saw this coming!
:)
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Handy that EW :)
 
Checking on the Nonfarm payrolls announcement days for the last several months, SPX rallied each of these days following the very bad reports and closed higher. The rallies continued on the next day (Monday). This has become a pattern for the Nonfarm report days lately. But Past performance does not guarantee future results though:(
 
Quote from mu200411:

Thanks Landis for the answer why the Market is going UP :) .
More...

This rumor about Geithner and "mark-to-market" has been floating around for the past couple of days . . Today, the EuroDollars are surging and acting as if something is in the "pipeline" to make life easier for the Banks.
 
2PM Fed announcement on TARP indicates a delay on when the 2nd half of the TARP will begin. Will be announced LATER this month, so says the FED.

Market selling off a bit on this news.
 
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