Ewj: elliott wave

I agree with you Mu....

Actually if 804.30 in the SPX is breached, there can still be bearish counts.... :) ...but for now, I think the next step could be a final leg up, then some downward move.

We can ponder our options then :)

SPX 30min

Note:
Having a hard time logging into and posting in ET....
 

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There is no Sell Signal on Wednesday , because Fed has done some magic :eek: .
Becasue of the wave lengths we have to count Wave 5)4.c as an ED :confused: .
Or else it should be count as 1-2-i-ii-.i-.ii-.iii-.iv of the New Bull Market :D .
 

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Quote from mu200411:

Wednesday's high touches Wave 5)1 low :eek: .
There is no more room to go UP unless this is a new Bull Market :) ,
because as Mup said, wave four should not invade wave one territory.
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Also, the last two times (Jan 28, 2009 the Fed kept rate at 0~0.25% and Dec 16, 2008 the Fed cut rate 0.75% to 0.25%) when the Fed announced interest rate decisions, the stock market went up in the same day but fell in the next couple of days. We may see the same pattern, perhaps.
 
If SPX breaks below 778.12, then the chances of the start of a downward move increases.

Else, the final leg up is still not complete... :)
 
Hey guys, assuming the bull case and that this rally is wave 1 up, how deep could we expect a retracement? Isn't .618 a common wave 2 retracement?

I'm looking to do some damage control on my short position.
 
Taking a few days off from the office due to a pesky head cold....:(

Anyway just looking at the SPX in the afternoon sun and we could easy get a move back up to over 1000 going into fall....

Just a scribble on the weekly SPX :)
 

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Quote from ericmoles:

Hey guys, assuming the bull case and that this rally is wave 1 up, how deep could we expect a retracement? Isn't .618 a common wave 2 retracement?

I'm looking to do some damage control on my short position.
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.618 and .50 are common retracements for w1 and "A" waves.

Before it gets there, it's good to keep an eye on that .382 first to see if it holds.... :)
 
Quote from ed:

If SPX breaks below 778.12, then the chances of the start of a downward move increases.

Else, the final leg up is still not complete... :)
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Heading down . . .
783 SPX as we speak.
:eek:
 
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