Ewj: elliott wave

[ericmoles]

Elovemer, I like your train of thought. We don't have to know where the market is going to make money (Mark Douglas). Whether you are long term bearish or bullish, this is a logical spot for a decline in either camp. How far will provide further clarity on the long term direction.

This decline is feeding my bearish bias though ; )

 

[elovemer]

measured move
B wave ?
or 3rd wave of 5 ?

emd midcap

 

[elovemer]

at minimum, i am looking for a 3 wave correction similar to the second big rectangle
... possibly deeper than that first 3 wave correction labeled "M"

.... with the first wave of the 3 wave correction in progress now

Quote from elovemer:
measured move
B wave ?
or 3rd wave of 5 ?
emd midcap

 

[elovemer]

djx daily

upward trend line broken
.......

 

[mu200411]

This should be a major correction, most likely Wave 2] :eek: .
Wave 2] should end near end of Wave 1]4) or 1036 ,
in about a month .

ammo,
http://thepatternsite.com/bigm.html
http://thepatternsite.com/bigw.html
mu.

 

[ammo]

Quote from mu200411:

This should be a major correction, most likely Wave 2] :eek: .
Wave 2] should end near end of Wave 1]4) or 1036 ,
in about a month .

ammo,
http://thepatternsite.com/bigm.html
http://thepatternsite.com/bigw.html
mu.

thanks mu, jenkins says not before feb 1

 

[ammo]

when the global credit gets back to reality,this red channel from circa 1936 would be fair value 1069-550

 

[ammo]

same reduced

 

[elovemer]

according to your chart... wave 3 is shorter than wave 1

Quote from mu200411:
This should be a major correction, most likely Wave 2] :eek: .
Wave 2] should end near end of Wave 1]4) or 1036 ,
in about a month .

 

[blnbr]

I received Neely's newsletter (to non-subscribers) over the weekend. Here's what he said:

"Due to the substantial advance following March 2009's low, many investors and analysts believe the worst of the economic downturn has ended. However, based on NEoWave theory, the opposite appears to be underway," says Glenn Neely. "The relentless, almost illogical advance of the past 10 months is coming to an end. This pending top will be followed by a significant 3- to 6-month decline, retracing 60 to 90% of the 2009 rally." To confirm this analysis, Neely points out the cash S&P must break 1100 in the month of January.

Let's see what happens.