Ewj: elliott wave

[Illum]

Might catch a short term bounce if we hit 881.

Don't see us hitting that today, if we stay in sell mode, maybe Thu/ Fri? Winnie still likes this I would think, retracement at best, can be worse. They sold after earnings last time around too. This time they claimed they would sell into earnings, nope, they bought.

 

[ed]

I'm looking out for 885~883 in the ES...

 

[mu200411]

The "M" pattern is quite completed .
There may be a rebound from one of the supports;
the lower border of trend channel, support levels, measured move.

 

[Illum]

Pressure picking up, may see that 881, X getting creamed

 

[Landis82]

This is the very first day that the OIH is trading BELOW the 10-day MA.

Should be some support at the breakout level around 94-ish.

 

[ed]

Hope you can understand

SPX 120min

 

[Illum]

Love it. Winnie is such an innocent looking fellow. Much better than the usual Grizzly bear pics.

 

[Landis82]

Should be interesting after this 5-wave up "bounce" from the new intra-day low to see if any kind of short-term retracement holds the lows . . . If it does, don't be surprised to see some good old-fashioned short-covering!

 

[ed]

Thanks Illum....

Did you notice Winnie was looking at the 50% @ 878 in the SPX?

Looks like it's getting there....

 

[Illum]

Lost my failed trendline break trade post, trying to post an M for mu. Not hiding my failure , just computer illiterate.

See if I can get this M up