Ewj: elliott wave

[mu200411]

Some more waves and we'll be at 1160 .

 

[mu200411]

Next UP move may be the final move for Wave 3]1)1.1 .

 

[mu200411]

Wave 3]1)1.1 should have 9 subwaves, but we are stuck with 7 subwaves .
which can be a 2]b)-wave .
Both should have some correction soon ,
but Wave 2]c) would be a bit larger than Wave 3]1)1.2 .
Note: Wave 2] should take more time than Wave 1]2) and 1]4) .

 

[mu200411]

Wave 3]1)1.1:5v could be longer and end near 1170 .

 

[mu200411]

USD/EUR is ready to go UP to .78 (EUR/USD=1.26) .
Crude Oil to $90 .
Gold to $1190 .

 

[mu200411]

The DOWN move begins to look impulsive :eek: .
Wave 3]1)1.1:5v might have ended as a wave five failure .
All the targets canceled for the time being .

 

[mu200411]

New High :eek: .
= Wave 3]1)1.1:5v .
Better late than never .

 

[mu200411]

Complete wave count at target SPX 1170 :eek: .
Is this new high a BULL Traps .

 

[mu200411]

Completed wave count at SPX 1169.48 .
Five waves DOWN, three waves UP,
there may be another five waves DOWN .
Wave 3]1)1.2 may go DOWN to 1120 or 1090 .

 

[mu200411]

A lower low as expected .
But not sure whether this the beginning of Wave 3]1)1.2 or a correction of a lesser degree .