Ewj: elliott wave

[mu200411]

Who has the idea? This 5-waves DOWN is a 1 or a c .
A 1 should be followed by a break below the red line.
A c should be followed by a break above the blue line.
There are some divergences in the six indices.

 

[mu200411]

Crude Oil falls from near measured move, previous high and round number $70 :eek: .
The next UP move will be 5th of 5th of 5th wave ,
if there is one .

 

[mu200411]

A higher high and a reverse Head and Shoulders pattern confirmation .
There may be a small measured move UP followed by a larger measured move UP later .

 

[mu200411]

There may be a measured move UP as 5th of 5th of 5th wave to $72 ,
followed by some correction to wave four of a lesser degree ,
a rebound to $85 this year and $95 next year as GS said .
http://money.cnn.com/2009/06/04/markets/oil.reut/index.htm

 

[ed]

Lookout for a large sell order of about 16,000 contracts in the ES now @ 941.75.....

Hmmm.... interesting.....

 

[ed]

Possible abc?

esm9 30min

Edit:
Could even be a ED c wave.....

 

[mu200411]

So we got our measured move UP and also a smaller measured move to form a 5-waves UP pattern .
So there may a larger measured move UP as expected .

 

[mu200411]

If this all of 5th of 5th of 5th wave of Crude Oil ,
or there may be wave .3-.4-.5 to the measured move target .

 

[mu200411]

SPX follows Crude Oil DOWN :eek: .

 

[mu200411]

SPX follows Crude Oil UP .