Ewj: elliott wave

I just don't feel comfortable with the tape today.

Mu, Mup, Landis,

See you at the "big bar" later. I'm heading there now for a drink!

:)
 
Well, it looks like the last minute and after hours action negated that theory. Maybe an a,b,c, down to retrace 68% of yesterdays move and form a B.

Measured move up in 5 waves for a C coming up?
 
Quote from Mup:

Hi Illum, can you post a chart so I can get a clearer idea of where your coming from..... :)
More...

Its only on paper. Sorry, I know trying to decipher my type is hard. I'm no English major.

I was trying to make a contracting triangle. My counts were different, still getting used to this. Next time I will make with a charting program before I bug ya heh. Thx though, your chart was great.

I had to get short end of day again. Today we closed below a very rudimentary trendline I had going. Since 11/21 low on a daily chart of the SPX, I have a trendline of higher lows. We were set to break the trend on the day the rumor of suspension of mark to market. That brought it back up above and it closed with higher lows and trendline intact. We were breaking below it on Thursday hard and more rumors come, we rally and close above and keep the trend. Today, we close below. First break of trend since 11/21. No manipulation to massage us above, it failed.

Putting this with my EW

If we can not rally there is no contracting triangle for me. Only A-B-C and now we go lower I assume. I am not including The decline from 1/7 to 1/21. The trend lower on 2/10 is not part of A-B-C. It is my wave 1. Wave 2 in progress, 3 coming. That my count now.. not sure..

So I had a triangle, now looking more like A-B-C, and the break of trendline forced me short. These government manipulations may get me, but I am seein it short.
 
I'm pretty new at wave counts. What do you guys think of these two ideas.

There are two alternates on this chart, one is in yellow, and one is in red in the attachment 'currentview'.

Any holes in these counts? Do they violate any Elliott rules?

Maybe my shorter time frame 'after hours' posted above will play out now that the stimulus bill has passed.
 

Attachments

Triangle might need a little adjustment their eirc due to your "d" wave going below "b" on a Contracting pattern...?
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In oldschool EW the Classic rules on corrective triangles state, they are rare beasts & only form in the proceeding corrective pattern before a final impulse wave. So corrective Triangles can never be a wave 2 or A... :)
 
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