Ewj: elliott wave

Quote from ed:

On the ESM9 daily, it could pass off as a zigzag wave (2) up. Naturally, with this count, the previous high of 929.50 cannot be breached. This count ties-in nicely with a possible wave 3 up in the VIX daily as well.... :)

On the triangle option, yesterday's "D" wave up should meet some resistance around the 78.6% and 88.6% retracement at ~914.75 and ~919.50 respectively. Above 923.50 makes the triangle less likely.

ESM9 Daily
http://www.elitetrader.com/vb/attachment.php?postid=2441850
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Still not much clarity whether it was a wave (2) up or a triangle. But well, whatever the case, we got our down day! :D

On the ESM9, the 890 area seems a good resting place for a wave 4.... :)

blnbr,
Your 880 on the ES could be spot on for wave 5 tomorrow.... and I like your fibo cycles.... Very nice! Thanks! :)

ESM9 30min
 

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Great chart, one of those wave 5 extensions :D I really do want to learn more about the relationship of time. Your chart is inspiring.
 
No problem guys.

I mentioned SPX 880 just by eyeballing rather than a careful TA. You guys usually do better than me to predict how much the market will move.

Regarding time cycles, I think if we study both the vertical measure (the price scale) and the horizontal measure (the time scale) on the price charts, we can forecast better. I found that a fairly large portion of time cycles fall into symmetrical and Fibonacci ratios mode. I think using these relatively simple tools our market timing can be improved noticeably. In fact, I don’t know much more than you do regarding time cycles. I first got the basic idea of time cycle from John Murphy’s book. And then I got the idea of Fibonacci time cycle from Robert Fischer’s book. But Fischer only briefly mentioned 1.618 ratio on time cycles in his book. I later looked at as many charts as I could and found other Fibo ratios also relevant to time cycles. But symmetrical, 1.618 (0.618), 1.382 (0.382) seem to be the major ones. That’s about what I know.

This subject is more about practice than theory. When you study it, just to observe as many cycle charts as you could, to gain your experience on the timing tool. I’m sure you’ll have some new findings after that. Remember to email me and share your 'tips' then :)
 
Quote from ed:

Still not much clarity whether it was a wave (2) up or a triangle. But well, whatever the case, we got our down day! :D

On the ESM9, the 890 area seems a good resting place for a wave 4.... :)
More...

Should this morph into a triangle, then 885 and thereafter 877 has to hold..... :)
 
Well done Mu :D 1200......

We got our down move yesterday, shame I missed it , with a pesky football (Soccer) game.. :))

Pattern wise it seems similar to Late Jan early Feb on the Daily...

See what you think :)

Daily SPX..
 

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