Ewj: elliott wave

Fifth wave :eek: .
"M" pattern at 850 resistance level is not a good sign :( .
A diagonal triangle, ending or leading is not a good sign either :D .
Sell Signal if the "M" pattern is confirmed.
Buy Signal if the "M" pattern fails :confused: .
 

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2PM "sell-off" in progress before the 3-day weekend . . . Been well "bid" all day long, now someone just pulled the plug a bit.

Intra-day Double-Top in the SPY?
85.14 was close, but no cigar!
:)
 
Time wasting again....

Looks like SPX wants to re-visit this morning's low at about 843~841 before resuming its upmove.

I doubt we'll reach the target of about 860~870 in the SPX by today unless it is an ED wave 5 in the works now. If so, it'll be the very last leg up... :)
 
SPY's getting squeezed again.
Lots of shorts around to squeeze.
New highs in the SPY.

Commodity names like Coal, Steel, Copper, and Nat-Gas continue to get bid up.

Nat-Gas continues to make new contract lows, but APA +$3.50 and the drillers strong again.

This market is extremely well bid.
Nothing personal, but if you think it's "wasting" time, you must not be trading/scalping intra-day.
 
Quote from Landis82:
This market is extremely well bid.
Nothing personal, but if you think it's "wasting" time, you must not be trading/scalping intra-day.
More...

I'm been scalping this whole week just to keep myself awake.... :D

Not really my cup of tea (..or mug of beer...) though.... would prefer the terminal move to complete for a strong trend reversal.... :D

Looks like SPX wants to get this last leg up done asap too.... :)
 
Fifth wave at convergence of resistances :eek: .
There may be some set back and another big measured move UP or may be not :confused: .
Wave I1]1) or IIa] may be in fact Wave IIc]
which can go DOWN another 50% to
INDU, SPX, NASDAQ = 4043, 428, 826 :mad: .

Symbol Last Change % Change High Low Volume Time
DJIA 8,083.38 +246.27 3.14 8,087.28 7,839.89 462,064,234 4:03 PM
NASDAQ 1,652.54 +61.88 3.89 1,652.54 1,616.25 2,047,404,912 5:15 PM
SP500 856.56 +31.40 3.81 856.91 829.29 n/a 4:59 PM
 

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The supports for the correction are 7751, 814, 1559 or 7488, 779, 1485 :( .
The Supper Bull (green) Count's last wave is Wave 3)3.3 which should be the strongest subwave in Wave 3) and
the target for Wave 3) is 1007, 9653, 1785 :D .
 

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Hey guys,

I was reading through your post and I am trying to get the hang of what's going on.

I am a subscriber at elliot wave. The guys on their site seem to think we are i n a bear market rally that's gonna last a few months.

Can you guys give me any info on how good the elliiot wave system works?

You guys pretty bearish for the long-term?

Do the people in this thread know what the hell they are talking about lol?

Any tips? I'd be glad to contribute more. Just let me kn ow what I can do. I think I could be a valuable contributor.
 
You might be right about a pull back at the end of this wave.

Daily!

We have a sell signal on Nasdaq, Dow Dax, and Sp500.

This software is built for Currencies, we are tweaking it now to work on indexes.

One night last week it did over 230 pips, so we decided to use it on the ES, our finding were extremely positive.

We are testing so trade at your own risk!
 
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