Ewj: elliott wave

Yes Mup, your expanding triangle may have forecasted the top in the indices. Today's rally was so steep... it may very well be a buying climax. Notice how sharply the indices have sold off after the close.
 
Hi Robert :)

The time ratio's would lend itself to a corrective pattern such as a exp triangle..

Glenn Neely did some good work on basic time ratio's of corrective patterns in his Mastering Elliott Wave book which might be useful for people to thumb through for ideas...
 
Nice call on BTU Mup!

It's already printing down in after-hours with 1900 shares at 32.72 and another 1,000 that just went off at 32.40

An equal measured-move down of 3.84 for C=A with today's high being the top of "B" would get you down to 29.51

:)
 
Mup, can you do a rush analysis on a chart of PTEN for me?

Earnings are out early next week and the stock is up at the top of its range, even though it is a nat-gas land driller and the price of NG continues to be languishing around 3.50

Could be a huge shorting opportunity.
:cool:
 
I'll take a look at PTEN .... :)

As for info on "trilogies" I'll have to put at trade mark on the term as you wont find it any were else other than this thread... :D Its Just a variant of esotric Gann.

If I've got time over the weekend , I'll go over the basic theory.... :)
 
Thank you Sir!

Assuming that today's late afternoon peak at 979.42 SPX holds up as a (b) with the sell-off into the close and after hours being a (c) leg down, we should obviously be looking for:

a 38.2% pullback to complete this A-B-C (iv) of [V] at 968.85

or a 50% pullback down to 965.61

or a 61.8% pullback down to 962.37

Before yet another run back up to complete the final 5-wave sequence, right?

If the bigger [IV] ended at 943.22 around 1PM in the afternoon on July 21st, and the first leg up (i) went up to the 959.83 high of July 22nd, that gets us a total of 16.61 points to add onto wherever this smaller (iv) of [V] of A bottoms out at.

:cool:
 
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