Ewj: elliott wave

[mu200411]

Interesting fibonaci ratios:
Wave :1, :3, :5 and :b ended at 100%, 138.2%, 161.8% and 200% respectively .
Wave :2, :4 and :c corrected about 23.6% of their respective UP move .
Would there be another measured move as Wave .3 ?

 

[mu200411]

Landis
Thank you .
mu.
Mup
Get some rest. Monday you'll be OK .
mu.

Wave v failure count showed supports at 23.6% and 61.8% retracement and resistance at 38.2% retracement.
Irregular correction count showed support at 38.2% retracement and resistances at 50% and 61.8% retracement.

Edit:
Previous post: "Wave :2, :4 and :c corrected about 23.6% of their respective UP move.
Should be: "Wave :2, :a and :c corrected about 23.6% of their respective UP move"

 

[blnbr]

Quote from mu200411:

Wave 5)4 count is still OK, because SPX cannot pass the resistance trendline and level.

Hi Mu, Thanks for the chart.

If SPX daily price moves on wave 5)5 as expected, what would be the target level by your calculation? I figured this wave could move to 590~600 area.

 

[TT1]

Quote from blnbr:

Hi Mu, Thanks for the chart.

If SPX daily price moves on wave 5)5 as expected, what would be the target level by your calculation? I figured this wave could move to 590~600 area.

A measured move 5=1 (think big picture) Targets 624.74 on SPX.

:eek:

 

[blnbr]

Quote from TT1:

A measured move 5=1 (think big picture) Targets 624.74 on SPX.

:eek:

Do you mean wave-5 = wave-1 ? If so I get 660.
How did you get 624.74 ?

 

[Mup]

Thanks Mu

The 5=1 based on the weekly I think TT1 is highlighting


http://www.elitetrader.com/vb/attachment.php?s=&postid=2328928

 

[Landis82]

Inside of Wave 5:

If (1) of Wave 5 was from January 6th at 943.85 down to the 804.30 SPX low of January 21st, then wouldn't the (5) of 5 target be 139.55 points from last Thursday's high at 803.24?

That would project a (5) of 5 target of:

663.69

 

[blnbr]

Quote from Mup:

Thanks Mu

The 5=1 based on the weekly I think TT1 is highlighting


http://www.elitetrader.com/vb/attachment.php?s=&postid=2328928

I see. By then we will complete 3 bearish 5-wave and could expect some kind of good rebound or turn around

 

[Mup]

Same as that w-x-y count lean of mine just but put in a more mainstream count style

Fractals anyone ?

240min ES

 

[Mup]

I'd like to see a move back to that 1000 area once this leeser pattern structure finishes...

It might not even get a new low if the z is complete just a restest move...

Daily SPX
Much cleaner on classic rules of ALts ect....