Ewj: elliott wave

China was down 3% last night and obviously this is spilling over into the commodity plays.

I've noticed some incredibly light volumes in individual names today . . . My favorite stock is only trading 345,000 shares with 2 hours left in the session. This stock normally trades an even ONE MILLION every day.
 
I imagine the bears will see the whole pattern from the 10:20 low(est) till around now as part of a Triangle...

Seems too "nice" of a set up for the bears on a friday afternoon...?

would trap enough for the usual friday mischief....
 
Quote from Mup:

I imagine the bears will see the whole pattern from the 10:20 low(est) till around now as part of a Triangle...

Seems too "nice" of a set up for the bears on a friday afternoon...?

would trap enough for the usual friday mischief....
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Hee hee hee.
Always time for a nice good "squeeze" :D

"Bloggers" foaming at the mouth looking for (3) to the downside to develop before the close, for sure.
 
Fall below the red lines was really bad :eek: .
We got two confirmed "M" patterns and another BIG one is in store :( .
A measured move DOWN, or down to the foot of the "BIG M" pattern :mad:.
Quote from mu200411:08-14-09 02:29 AM


Trend Channel.
Rebound from the red lines is good.
Fall below the red lines is bad.
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The 13th wave may be a thirteenth wave failure :eek: .
This may be the fourth time that the RSI cut 70% line down :) .
MACD also cut the trigger line DOWN :D
What is the implication :confused: ?

Note: Round bottom in SPX one day chart.
Quote from mu200411:08-08-09 11:50 AM

SPX's 11 waves of the same scale may be equal to 3 waves,
so there may be still two more waves, i.e., Wave 3)4 and Wave 3)5,
or additional four more waves, i.e., Wave 3)3.2, .3, .4, .5 :confused:
MACD turned sideways, ready to turn DOWN to the trigger line :eek: .
RSI cut 70% line DOWN 2 times :( ,
the third or fourth time may be a true SELL signal :mad: .
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