Ewj: elliott wave

[ed]

Quote from ed:

We can ponder our options then

Odds seem pretty high that we're still in a wave 4 flat correction. (I feel like a broken record for the past few months! )

SPX weekly

Edit:
Mup,
Just saw your post after I posted this.... Seems like we're on the same page.. Hope you get well soon....

 

[ed]

A more bearish scenario (heavily tinted by bearish goggles.... )

Take your pick...

SPX Weekly

 

[mu200411]

Looks like an a-b-c today. Now in fifth wave of c.
If the lower red line is broken then DOWN as Wave 5)5 .
If the upper red line is broken then UP as Wave v of something .

 

[Landis82]

Thanks Mu!

Very big battle here between the financial stocks getting shaved with profit-taking vs the big rotation into the energy, drilling, coal, steel, and natural resource names.

Big Battle.
Triple Witch Expiration tomorrow too!

 

[blnbr]

a-b-c-x-a-b-c

 

[Landis82]

Maybe a "measured-move" down to 771 SPX?

 

[Landis82]

Intra-day low of 782.25 SPX just held again shortly before 3PM.

Gives the Bulls some hope.

 

[Landis82]

All Fibonacci grids are drawn to the recent March (closing) Low at 675.

Grid 1 is drawn from the November highs
Grid 2 is drawn from the January highs
Grid 3 is drawn from the February highs

Letting the chart speak for itself (click for larger image), the November 38.2% Retracement is at 801; January 50.0% Retracement is at 805; and February 61.8% Retracement is at 797.

From Corey Rosenbloom of "Afraid to Trade"

 

[Mup]

120min Globex....
1:1 around 755 area

 

[Mup]

5min ES