Ewj: elliott wave

[Mup]

While its above its Alt, the odds still still favour the wave iv option..

They like to Gap ED vth's so you get the throw over around the opening 20mins...

So a bit more corrective chop this afternoon as part of a double 3 w-x-y around the alt...

(If the alt goes then things change......)

See what you think....
30min ES scribble

 

[Mup]

The more I look at things on the EUR mu, the more I'm starting to leaning towards the ED option....(Since the EWI have flat C on DX before going higher)
http://www.elitetrader.com/vb/showthread.php?s=&threadid=101387&perpage=6&pagenumber=1284

Haven't got the same "tools" here, but I'll have to take a closer look at the delta options.....

Nearly up to 1300 pages!!

 

[Landis82]

Am looking for the "moment of truth" here as Mr. Market tells us which way he wants to move . . .

Wouldn't be surprised to see the shorts get "squeezed" here coming out of this 1PM low in the SPY.

 

[Mup]

There's some real mischief going on with the likes of AIG, CIT ect.....

Would fit the "x" wave a nice pop back up before going back down to test the alt as part of the "y" later on....

 

[Landis82]

Quote from Mup:

There's some real mischief going on with the likes of AIG CIT ect.....

Look at JPM too!

Big rotation OUT OF ENERGY and into the BANKS.

 

[Mup]

Well done Mu !!

1300 and still going strong


Enforced lunch time for me while the "x" is playing out.... :eek:

 

[Landis82]

Oil comes back to close up 30-40 cents on the session. OIH clawing its way back and the SQUEEZE is on!!!

 

[Landis82]

Investor's Intelligence Sentiment is out today and we finally have a decent uptick in the Bullish sentiment . . .

47.2% Bulls

25.8% Bears

 

[Mup]

Got the "x" see if we get a decent "y" just to waste more time and drive people more nuts....

Wave ii was 25 bars on the 30min.....
Wave iv is normally similar in time....( were on bar 20 at the moment)

30min ES

 

[Landis82]

Wow, still in (iv).
This is taking forever!!!