Ewj: elliott wave

LOL!

Bloggers looking for an "X" wave rally after completing a 5-wave down [c] of B.

And then another "three" which would form in a "double-three".

A similar process like the 956 to 869 correction
 
Bob Prechter cnbc slot...

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maybe the Mods can clean the embed link up ? thx
 
Five waves UP :) .
There may be a measured move UP :D .
Quote from mu200411:08-17-09 11:54 PM

So we got our third Big "M" :cool: .
The question is, "where this will end?" :confused: .
It might have ended already :) .
See if the small "W" pattern is confirmed or not :D .
 

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Not been paying much attention to the charts today... Just fired them up now...

As an eyeball, one more push for a lesser 5th into that 990-991 (ES) area to finish off the c .. Things change if it get above that 991 area....

See what you think :)
60Min ES
 

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Louise Yamada likens this phase of the Bear market to that of the rally in 1938 which saw 60% gains in the Dow, followed by the low in 1942.

She also makes note of a divergence in volume occurring here as opposed to the peak back in May.

In any event, it might be interesting to check out the 1932 - 1938 and the subsequent low in 1942 for an analog.

http://www.ritholtz.com/blog/wp-content/uploads/2009/05/1938-barrons-yamada-20090522.gif

No matter how you slice it, those years saw GREAT "two-way" trading markets.

:)
 
Quote from Mup:

As an eyeball, one more push for a lesser 5th into that 990-991 (ES) area to finish off the c ..
See what you think :)
http://www.elitetrader.com/vb/attachment.php?s=&postid=2545366

60Min ES

Not technical at all :)

As ed points out the 5th could indeed be finished or its morphing into a larger pattern, so for now I may as well enjoy the "mini heat wave" over here while it lasts & I'll see what mischief the markets upto a bit later on..... :)
 

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