Ewj: elliott wave

Thanks ammo! :)

I'm still learning and refining EW.

I think the greatest irony with EW (and perhaps it's greatest strength too) is that no count is absolute. There are ALWAYS other possibilities. Few can accept this.

With multiple possibilities come complexities, thus rendering a "simple summary" of EW very difficult. :)

I've extracted two previous posts which I think may help :)

From p490:
Quote from Xuanxue:
07-18-08 07:01 PM
Then you'll need this:

http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500-Articles/EWRules.htm

From p732:
Quote from Mup:
11-12-08 02:15 AM
Hi derrick

"Brief" and "Elliott Wave " are not two words that go together easily... Its probably best for a weekend discussion while enjoying a Guinness or Mount Gay Special Reserve with a Cohiba Siglo VI :D

In the mean time
ed's link is a good place to start...

Also, dare I say, EWI has some useful stuff on their site :eek: :)

http://www.elliottwave.net/educational/basictenets/basics1.htm

On how Elliott Wave helps, I don;t know any other method that gave us a hint of this weeks price action, last week...

For bread and butter everyday trading, elo hits the nail on the head with ALT's & Measured Moves ...:)
 
There may be a measured move DOWN to 875 or below :D .

Futures DOWN
May 17 10:07pm † Change %Change Level
Dow -57.00 -0.69% 8,210.00
NASDAQ -9.50 -0.70% 1,344.75
S&P -7.30 -0.83% 875.70

Asia Pacific & Australia DOWN
Index Change %Change Level Last Update *
Australia ASX 100 -43.30 -1.40% 3,054.20 5/18 12:21pm
Australia ASX All Ords -49.50 -1.32% 3,709.40 5/18 12:21pm
Australia ASX Mid-cap 50 -27.00 -0.82% 3,283.40 5/18 12:21pm
Hong Kong Hang Seng -407.27 -2.43% 16,383.43 5/18 10:21am
Hong Kong HSCC Red Chip -93.58 -2.64% 3,453.89 5/18 10:21am
Japan Nikkei 225 -263.43 -2.84% 9,001.59 5/18 11:00am

Crude DOWN
Energy Price Change High Low Settle Last Update †
Light Crude (NYM)
June 09 ($US per bbl.) 56.26 -0.08 56.78 56.15 56.34 5/17 10:10pm
 

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Quote from Landis82:

Ed,

I'd LOVE to see 910.50 again! :)

Thanks Landis...

The ES seems to be developing an ED fifth.... :D

If it is indeed an ED, then I'll have to give more weightage to the red scenario :eek:

Whatever the case, I think 896.75 should be a safe target before Mr Market goes whereever he wishes to go.... :)
 

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Crude Oil UP, futures turn positive :eek: .

Energy Price Change High Low Settle Last Update †
Light Crude (NYM)
June 09 ($US per bbl.) 56.93 +0.59 56.93 56.93 56.34 5/18 5:48am

May 18 5:41am † Change %Change Level
Dow +38.00 +0.46% 8,305.00
NASDAQ +7.25 +0.54% 1,361.50
S&P +5.50 +0.62% 888.50
 
Rally would still fit my daily chart. There was no extension of Thursday rally so still in wave 1. A wave 2 here could get up to 915 without becoming bullish for me. Also for the bulls we at the bottom of the channel up, so they should try to make some good money here.

Will see how react to housing data first hehe.

If housing is bad, Im not playing today. She wants to go up and could hurt in a head fake, I wouldn't handle well. If some green shoots, I'll buy. Anyway a Winnie follower refusing to sell today, gl every1.
 

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