Ewj: elliott wave

[mu200411]

The same is true with Oil Index .

 

[Landis82]

The FXE looks to have bounced off the 40 day MA yesterday.

 

[mu200411]

Next new high may be Wave 1)5.5.5v? ,
target $75-76 .

 

[mu200411]

Five waves UP .
There may be a measured move UP .

 

[mu200411]

Try to count as a 5-waves UP .

 

[Landis82]

Re-testing yesterday's lows in the SPX.
OIH coming into the 21-day MA at 106.00

 

[mu200411]

New Low :eek: .

 

[Landis82]

Next stop . . .Heading down to the 40 day MA in the SPX?

 

[mu200411]

Five waves DOWN :eek: .
This may be Wave 2) or Wave IVc]5)1 .

May rebound from 40 dSMA as wave b ,
before going DOWN again as wave c .

 

[blnbr]

SPX broke daily chart support yesterday, further slide today is pretty much what I expected. Will the daily SPX just have a mild correction like last month’s or else? That remains to be seen.