Ewj: elliott wave

[mu200411]

The last high may be a BULL Trap .
Crossing the supporting trednlines DOWN may be good SELL Signals .

 

[mu200411]

Next new high may be the last fifth wave .
Target $74-75 .

 

[mu200411]

"W" pattern confirmed, but there is pull back :eek: .
The supporting trendlines still hold.
Wait for BUY and SELL signals .

 

[Landis82]

Looks like we have lost quite a few posters here this past week, for some reason.

Have a great Weekend Mu!

 

[mu200411]

Thanks Landis,
Viewers would have missed Mup's posts.
Have a good Weekend too, Landis.
Mu.

Mr.Market has held back his answer again :eek: .
Equal chances of UP and DOWN movement .

 

[mu200411]

Dow turns positive for '09
http://money.cnn.com/2009/06/12/markets/markets_newyork/index.htm
That's a hammer in Yearly Candle Stick, if today is Dec 31, 2009.
A yearly hammer were the lows in 1932 and 1942 .
Will this be a low too ?

Quarterly Bullish-Engulfing-look-alike, is bullish too .

 

[Landis82]

Dollar rally putting big pressure on commodities, along with the OIH and coal and steel names today.

 

[mu200411]

So Mr. Market gave the SELL Signal :eek: .
Price is above all three SMAs, everyone has profit to take .
Wait and see if the three SMAs can hold .
BUY Signal = rebound from SMAs.

Note:
Crude Oil down from wave five failure just below target $74

 

[Landis82]

Pretty light volume today.
Just no bids.

21-day MA on the SPX coming thru around 921. 50% retracement coming through right around today's lows in cash.

 

[mu200411]

Rebound from Landis 21SMA is good for the Bulls .

30 Jun 16 8:05am † Change %Change Level
Dow +27.00 +0.32% 8,591.00
NASDAQ +7.25 +0.50% 1,464.50
S&P +2.30 +0.25% 921.70