Ewj: elliott wave

Quote from ed:

After taking another look at this chart, I still feel 1097 to be a good target before the down move resumes. :)

The intraday squiggles may be difficult to anticipate and define though, so I think it's best to leave it to Mr Market to chart its own path there... :)

:)
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Okay, here's another try..... :)

Double zigzag :)

SPX 90min
 

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The UP waves looked corrective :( .
Wave c.5 may be a wave five failure.
Wave 2]c) might have begun :mad: .
The three red lines may be good SELL Signals.
Head and Shoulders !!!


Note: An irregular wave 3]1)1.1:b is unlikely :confused: .
 

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Quote from ed:

Pg 79, EW Principle 20th Anniversary Edition:

"If the analyst can easily say to himself, "There is something wrong with this market," chances are it's a "B" wave."

Hmmm.... wonder if this applies right now.....

ESH0 61m :D
http://www.elitetrader.com/vb/attachment.php?postid=2725414
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I think the "B" wave is much clearer on the Russell 2000 (RUT). After this consolidation, I am expecting a pretty strong "C" wave from all the "pent-up" frustration of going nowhere...... :D

RUT 90min :)
 

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Two months after Gold touched $1220, Gold went DOWN as low as $1049 :) .
It is time to cover the Gold short positions and begin to go long :) .
Wave I5]5) can go UP to $1400 :D .
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Posted by mu200411 on 11-28-09 09:38 AM:

From $1195 (near $1200), Gold began the journey DOWN to $1040 as scheduled .
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Quote from mu200411:11-25-09 10:30 PM

Gold$1183! Fifth subwave of fifth subwave of fifth wave .
Double measured move and round number near $1200 .
A good level to begin SHORT positions .
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Congratulations Mu! Yet another major milestone reached! :D

Gong Xi Fa Cai! :D

Quote from ed:02-09-10 08:19 PM

After taking another look at this chart, I still feel 1097 to be a good target before the down move resumes. :)

The intraday squiggles may be difficult to anticipate and define though, so I think it's best to leave it to Mr Market to chart its own path there... :)

"However, in lethargic or choppy markets, particularly in corrections, wave structures are more likely to be complex and slow to develop. In these cases, a longer term chart often effectively condenses the action into a form that clarifies the pattern in progress." (Pg 68 EWP 20th Anniversary Edition)

:)
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ESH0 60min :)
 

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