Ewj: elliott wave

Fifth wave of fifth wave :) .
875 still holds. There may be another five waves UP after some correction :D .
Quote from mu200411:05-14-09 06:12 PM

I have 3 alternative counts :) :
1. Wave 1)-2)-3)1-3)2-3)3-3)4. This count is voided when SPX falls below 875.
2. Wave 1)-2)-3)-4). This count is voided when SPX falls below 832.
3. Wave IVc]4)a-b-c and we are in Wave IVc]5)
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Quote from ed:

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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Got to 896.75 and more.... :)

Seems like I counted my ED too slow..... :D

Look out for that 50% in the ES at about 901... :)
 
Quote from mu200411:

Five waves UP from just above Wave 3)1 :) .
This may be the beginning of Wave 3)5 which can go above 930 :D
Note the "W" pattern confirmation.
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Looking good mu. will see about some follow through today. If the bulls really want it 930 shouldn't be a problem, it would be less than midway in the channel.

Feel better ed.

I am self inflicted sick, trying to find a time frame to see waves and yet be able to daytrade. The one min and the 5 min charts are not helping. The 90-120 min are beautiful but with the 500 min down, I think I'd have nervous break down trading off those. Will try to make the 5 min work, see if I can make out parts of waves. Does anyone use a faster chart for daytrades? Not too big a deal. Will set up a cheapo account with money I can lose, but would hate for it to go wrong. I may have been destined to play it slow and not use high margin.

Here is the channel look. Bulls have room to run if they want. I'm sidelined looking for lower high and start to 3. gl everyone
 

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Hi Illum,

I do like the 5min for intraday, if the ATR drops then I'll dip down to the 3min...

:)

Had some issues yesterday with heavy rain fall affecting our connections, well see how it behaves today as the rain is still coming down....
 
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