Ewj: elliott wave

Aug 27-28 should be labeled as 7-waves UP and 5-waves DOWN and 3-waves UP.
This would have helped me see the Bull Trap.

Boltonct Commentary
Friday, August 21, 2009
The next week is another critical market juncture
...........In the next day or two we could see what will appear to be either another rally forming due to manipulation... or a correction to this bubble beginning. If it is a rally it is highly probable that it will trigger many buy signals. But where will the money for a rally come from when the hedge funds always stay fully invested? If the rally is once again a FED type manipulation on low volume we could soon see people begin to exit the increasingly dangerous stock market en masse for better investments such as real estate. If a rally begins today it will take another week to know whether or not it was a bull trap. Sometimes bears are also panicked and fall into a bull trap.
http://boltonct.blogspot.com/2009/08/next-week-is-another-critical-market.html
 

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The Market began to behave predictably :cool: .
Crossing the blue lines UP will be good for the Bulls :) .
Crossing the red lines DOWN will be good for the Bears and Mr.Prechter :D .

Mup, elovemer, ed, landis, ammo and everybody,
Please share your charts or opinions.
mu.
 

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Quote from ammo:

i mentioned a 3 step patttern a few weekends back, 3 steps and return to bottom of 1st step, they dont work out often, but something to be aware of. The past reference ws to the 3 step dow pattern going into the 87 crash
More...
still watching this movie
 
ammo,
July 8, 2009 - Aug 25, 2009 may be in fact a five, not a seven.
So the Huge "M" pattern should end above Aug 17 low.
mu.

Note the Bullish Engulfing Candle Stick Pattern.
 

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