Ewj: elliott wave
- Thread starter mu200411
- Start date
I believe the low yesterday at 11:30am was the completion of an A-B-C zig-zag correction in the indices. The C wave was within 5 points of the A wave's length and yesterday's low was clearly the completion of 5 waves down from the B wave. The attached chart is from the June 11 high through yesterday.
Robert
Robert
I have labeled the attached chart from yesterdays low. Early this morning 5 waves were completed to the upside and an ED formed completing the short term wave 2. I am long the Russell 2000 from 479.1, but still bearish on the stock market and the economy. Looking for this rally to eventually take out the June 11 high and complete a zig-zag wave 2(C) correction in the indices before I will look to get short.
Robert
Robert
FYI - 5th wave appears to be beginning in soybeans. Best picture is on the continuous weekly or DTN National Soybean Index (NSI.X) weekly chart.
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.Wait for RSI < 30, a divergence and a BUY Signal before entering.
Stocks set to open lower Jul 10: 6:08a
Futures were pointing slightly negative. Morning reports: Trade balance and consumer sentiment. (more)
http://money.cnn.com/2009/07/10/markets/premarkets_friday/index.htm
Jul 10 6:22am â Change %Change Level
Dow -62.00 -0.76% 8,072.00
NASDAQ -8.50 -0.60% 1,405.00
S&P -6.30 -0.72% 872.50
Stocks set to open lower Jul 10: 6:08a
Futures were pointing slightly negative. Morning reports: Trade balance and consumer sentiment. (more)
http://money.cnn.com/2009/07/10/markets/premarkets_friday/index.htm
Jul 10 6:22am â Change %Change Level
Dow -62.00 -0.76% 8,072.00
NASDAQ -8.50 -0.60% 1,405.00
S&P -6.30 -0.72% 872.50