Ewj: elliott wave

[blnbr]

If wave 5)5 moves 1:1 as the chart shows, the price may target to 590~600 area. But I’m not sure if this projection violates EW rules though.

 

[Mup]

You could project a 1:1 target for the 526 area if you go from the Jan 6th (09) high due to this last ALt overbalancing the previous correction...

240 SPX

 

[blnbr]

Quote from Mup:

You could project a 1:1 target for the 526 area if you go from the Jan 6th (09) high due to this last ALt overbalancing the previous correction...

240 SPX

Yep, I don't exclude that possibility either. If that happens, we may buy more heavily

 

[Landis82]

Quote from Mup:

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

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

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

The "re-test" would argue for the following fibs from the 666.79 - 803.24 SPX rally:

61.8 = 84.32 = 718.92

50.0 = 68.22 = 734.99

38.2 = 52.12 = 751.12

 

[mu200411]

Long Term Charts.
Supercycle Wave IV) is a Flat in SPX, an Irregular Correction in the DOW and a Triangle in NASDAQ.
The big "M" pattern in SPX is confirmed and has some more room to go DOWN. Wave IV) might have ended at Grand Supercycle Wave II] (21-years triangle) measured move before the last rebound. If not, next support may be Elliott's 13-years triangle Wave II] measured move. If the DOWN move goes to Precther's Wave II] measured move, it should be labeled as Grand Supercycle Wave IV].
Note multiple interesting fibonaci ratios.

 

[TT1]

Quote from blnbr:

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

Wave 1 down from 1576.09 (10/11/07) to 1256.98 (3/17/08) = 319.11 pts.

Wave 5 down from 943.85 (1/6/09) - 319.11 = 624.74 SPX


Yes Mup, Im looking at the Big Picture be it Daily or Weekly.

http://blog.afraidtotrade.com/update-on-the-two-competing-sp500-elliott-wave-interpretations/

 

[blnbr]

Quote from TT1:

Wave 1 down from 1576.09 (10/11/07) to 1256.98 (3/17/08) = 319.11 pts.

Wave 5 down from 943.85 (1/6/09) - 319.11 = 624.74 SPX


Yes Mup, Im looking at the Big Picture be it Daily or Weekly.

http://blog.afraidtotrade.com/update-on-the-two-competing-sp500-elliott-wave-interpretations/

Thanks TT1!

And does anyone expect a relatively smooth downward move from wave-4 to wave-5 this time based on the alternation rule (note that wave-2 construction was complex)?

 

[Mup]

Monthly line chart SPX

 

[Mup]

Quote from Mup
GBP is looking beter as its 300 pips of that 88.6% still needs to clear its last ALt (1.4010) to shore up things...
http://www.elitetrader.com/vb/attachment.php?s=&postid=2345075
240min GBP/USD

Still like to see GBP try for that 1:1 around 1.5150 area.

240min GBP/USD #F

 

[Illum]

Quote from mu200411:

Long Term Charts.
Supercycle Wave IV) is a Flat in SPX, an Irregular Correction in the DOW and a Triangle in NASDAQ.
The big "M" pattern in SPX is confirmed and has some more room to go DOWN. Wave IV) might have ended at Grand Supercycle Wave II] (21-years triangle) measured move before the last rebound. If not, next support may be Elliott's 13-years triangle Wave II] measured move. If the DOWN move goes to Precther's Wave II] measured move, it should be labeled as Grand Supercycle Wave IV].
Note multiple interesting fibonaci ratios.

Thx! Love the long term views. Im wondering if we have Elliot vs Precther on the horizon. Are we on our way down hard, 2012, or is that not for another century+? I'm starting believe in Elliot. If so our technology will begin to fail us imo, this is more than economic. Soon I'm gonna take a tiny, just for fun, short in Roche. In my weird mind if Elliot is right Avastin will fail. Anyway, love the long term views, fascinating and helps put everything in perspective. Precther said cover it up, I surely have not forgotten, and ripping up to new highs and a new bull market of tech, biotech, green energy wouldn't shock me. Not that he implied those grand things. He simply said money on the short side not so easy in here - for now-

Im just wondering what cycle we are in now...