Ewj: elliott wave

Quote from TraderRob:
Mup your 666 price and time chart is fascinating.... for you, does this increase the probability that a top is in?

Robert
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More likely a lesser pressure point.....

The Market had its chance to really roll devastatingly over last week, on that 3.14 time pressure... ( Sept 11 2001 was the last time that time ratio came up)

But will see how the alts go......
 
Quote from Mup:

PTEN

Would be idea if we had a flat 2 back down just below $13 to get it a good sling shot for the 3rd.....

Daily PTEN
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Thanks Mup.

PTEN certainly looks to be acting pretty bullish even with such a bearish fundamental backdrop... That having been said, HURRICANE season is here!

:)
 
Ok, so here comes the sell-off with State Street leading the financials lower ( not enough reserves for their sub-prime stuff per their 10Q ) . . . retailers giving back last weeks gains, the energy sector pulling back a bit with crude off a touch.

As we all know, this thing could "snowball" a bit after all of these gains that we've had and a lot of "overbought" sectors.

Targets anyone?
 
Kb has the same... :)

992 is the next easy eyeball support level that comes into play if 999 lets go... (those pesky alt traffic lights :)

But While 999 holds bulls can still hold the high ground...

time and price on the 5min ES
 

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