Ewj: elliott wave

The minimum retracement for a ED is back to where it first started. So we should at least see SPX touch 692.30 before any significant rebound up again, if any. :)
 
With Gaps , its the base and body of the bar/candle that are normally more important than the top of the bar, hence my 688.75 on that last chart.

The bulls will always try their luck on the top of the bar for a gap close ..... 9/10 times they will get punished for being keen...
 
Quote from Mup:
03-06-09 12:19 AM

Looking better
Its been a good example of waterfall price action today...

5min ES with the C wave ratios highlighted :)

http://www.elitetrader.com/vb/attachment.php?s=&postid=2334206
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Here's another view of that 675-670 area in the SPX likely to throw up some support. Could be a spot to start the long anticipated wave 4 up before the final 5th down?

:)

SPX 90min
 

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Quote from Mup:

Popular levels there ed :)
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Thanks Mup

I thought I'll paint this more optimistic picture first.... :)

If these levels cannot hold, then the high 500s or low 600s in the SPX comes into play.... :eek:
 
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