Ewj: elliott wave

[mu200411]

Thanks Mup.
mu.

5-waves UP and r-sHs pattern suggests some more measured move UP .
Alternative count is a-b-c at 61.8% retracement .
Place stops at 1st - 4th red horizontal lines .

 

[Mup]

That bigger picture SPX just to get perspective...

Just in the final part of that first lesser a wave...

Quote from Mup 03-26-09
That daily SPX for perspective
http://www.elitetrader.com/vb/attachment.php?s=&postid=2364184

 

[hohole]

I think the DJIA is going to move down.

How do you think about my picture?

 

[ed]

Quote from Mup:
For now I'll just keep that LD count on for ease.....

240min SPX
http://www.elitetrader.com/vb/attachment.php?s=&postid=2400517

Thanks Mup!

I think I am finally able to "see" the LD. Didn't expect it to be so big!

 

[ed]

Quote from hohole:

I think the DJIA is going to move down.

How do you think about my picture?

Hi hohole,

That's a popular count for a bearish view

 

[mu200411]

Moves UP as expected. Passes the small measured move .
The big measured move is more likely now .

 

[Mup]

Leading diagonals share a lot of the same ratio rules with ending diagonals....

LD's are made up of 5 waves, with wave 1 of the LD being the longest.
Wave 4 must overlap wave 1
Waves 1,3 & 5 should be made up of lesser 5 wave strutures...( not 3's like ED's)

123.6 % ext of wave 4 is a normal first line eyeball 5th target (883.5)

240min Globex

 

[mu200411]

Fifth subwave of fifth wave at resistance trendline :eek: .
Some set back before continue UP .

 

[mu200411]

Fifth sub-subwave of fifth subwave of fifth wave at resistance trendline,
near the big measured move then a set back as expected .
There may be another measured move UP to 890 .

 

[Landis82]

Crude Oil is surging today which is helping the OIH climb to new highs for the move, now in the 93 handle, and up from 80 on April 1st.

Glenn Neely is so (confused) and wrong it isn't even funny.

This puts a nice strong bid in the SPX.