Ewj: elliott wave

[mu200411]

Five waves UP, three waves DOWN .
There may be a measured move UP .

 

[ed]

Quote from ed:


Looks like it may be a w5 in the works.....Okay..... I'm going long pretty soon with a tight stop as I need to step away...

Can't be too greedy when I have to keep stepping away, so I'll be taking profits around the 838 area with a trailing stop in place...

 

[mu200411]

A little bit bigger than measured move UP as expected ,
and fifth wave count. Some correction soon .
Wait and see if this is a-b-c or 1-2-3 .

 

[Landis82]

843 handle in the SPX now.
The OIH and drillers and resource names are once again dominating the show!

 

[ammo]

2996 price level in dj trans resistance ,using 4/9, 4/13, 4/14, and 4/15 tops as avg

 

[Landis82]

Glenn Neely is looking for a 1-3 week surge up towards the 950 to 1000 SPX level due to last Friday's cash print above 875. That is what the wave structure was telling him coming into Monday. He even went long the S&P futures with an 822 stop. Not sure what he's saying now ( will have to wait till Wednesday update ) given yesterday's near 300 point plunge.

By the way, last Friday's cash high was 875.63

 

[mu200411]

Looks like a 5-waves UP to 38.2% retracement, then a correction.
There may be another measured move UP .

 

[mu200411]

The DOWN move looks corrective .
If the resistance trendline and level are broken, another measured move UP is more likely .

 

[Landis82]

And yet another surge back up to the highs and the 38.2 at SPX 845 just before 2:45PM Eastern.

 

[Landis82]

Just for our good buddy Ed!

http://blog.afraidtotrade.com/