Ewj: elliott wave

OIH and coal stocks are back up into resistance.
BTU comes out with earnings tomorrow . . . expecting .97 cents.

This is a key juncture here.
 
The correction predicted by both Wave 1)5 and Wave 3.3 counts unfolded.
Next Wave 1)5 and Wave 3.3 counts will diverge.
A lower low as Wave 2)a versus a higher high as Wave 3.3:3 :confused: .
 

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This is a major area for a nice bounce, this area right here gos back for several days, lot of action in this area. ESMO9
Trade station ES contract for Jun 09

Plus it was 5 wave down on the last move, on the one min chart!


Plus it is 5 waves down on the 30 min chart, maybe not finished.

30 min chart 2 of 5 wave

it would be 1 to 3 more wave for completion................30 min chart
 
Hope you made some profit in this wedge formation, yes your at the top of the wedge right now! Good place to exit from the bounce! ES
 
Quote from athlonmank8:

Moon is my baby. Futures -9. This will carry into the next few days if this holds into the AM.
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Took some profits today.

Questino: So everyone's consensus is that this was a corrective wave right?
 
Use the long term trendlines as a reference. to determine type of correction!

Meaning if the daily trendline is not broken this is only a correction.
 
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