Ewj: elliott wave

Quote from geico:

Show me the five waves in this chart. This is the crude oil chart .
More...

There is a (1) and a (2) wave into April 3rd, 2008.

Then, there is a complex (3) wave ( that subdivides into 5 smaller waves that begins with wave (i) topping out in late April, with a wave (ii) pullback before a (iii) and (iv) and (v) that finishes off wave (3) at about $135 dollars in late May.

What ensues is a Wave (4) correction down to $121.55 on your chart in early June.

Then, we have a 5-wave "diagonal" triangle from that point on ( i-ii-iii-iv-v ) which terminates Wave (5) at $147.

Hope this helps.
:)
 
Looks like we just retraced .786 of the decline from yesterday's highs at 845.61 SPX. Another ABC completed?

(841.50 = .786)

C=A at 842.94

:)
 
Quote from athlonmank8:

I have to agree. Unless there's a drastic move down tomorrow we're still in an up cycle. Using the IT downtrend on the ES as a new signal long (and my stop) and the fact that there's plenty of fresh blood (shorts) it should be a good signal for next week granted we break.

Probably will get triggered long as it looks banks have been soaking up this selling.


IF we gap down tomorrow that'll change the game though based on just my opinion (hoping it will).

Not an easy tape here just yet, and that's not going to help my Theta :(. Not even sure why i'm in.
More...

Quote from athlonmank8:

Ughh just puked up some nice Vega/Delta on this gap up.

*crawls back to the fetal position*

Longs are looking good into next week
More...

Still plenty of strength left in this bugger. Got some traction back today finally. Looks like we'll see more upside Monday and into Tues.

Cycle's still bullish until then.

Banks are really having a tough time though.

Nice charts on oil Mu. Got a few calls spread across the board on rigs.

Glad someone mentioned this thread to me. Gonna try and contribute what I can. You guys really have your EW down. Nice work on the charts.

Have a good weekend.
 
Five waves UP completed the reverse Head and Shoulders pattern.
After some correction after last (red) measured move UP :) ,
there may another two green measured moves UP, as wave v.iii and v.v to complete Wave :3 :D .
 

Attachments

The amount of overlaps since March 6th makes it very difficult to count.

However way I see it, March 25-30 still looks like a flat to me, so I'm labelling it as a (B). Naturally, this leaves us in either wave (C) or wave 3 up :)

The next few days would be very interesting.... :) If SPX continues to move upwards and bust through both 859.81 & 878.69, then we're likely going to see some sustained move upwards, else it's goodnight irene.....:D

SPX 120min
 

Attachments

You must log in or register to reply here.
Back
Top