Ewj: elliott wave
- Thread starter mu200411
- Start date
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.Interesting Fibonacci relationships.
There is something that looks like a Tri Star pattern, which is a bearish reversal pattern.
Target = 960 if fells from here.
http://www.investium.net/library/003-Candlestick_Summary.pdf
There is something that looks like a Tri Star pattern, which is a bearish reversal pattern.
Target = 960 if fells from here.
http://www.investium.net/library/003-Candlestick_Summary.pdf
There is an opposing viewpoint by a person also using the Elliot Wave Theory. He is forecasting a spike up instead of a drop.
http://www.tradeyourwayout.com/
Addendum: In looking at the SPX, DAX, Nikkei, & BSE (India), they all look like they want to turn down. But I've seen this before, and instead of turning down, we continued up. Just before the close, I saw a last second 12.x million sell in the SPY. You can verify this if you look at the intraday volume.
Monday, I expect a gap down and I'm buying at the open. If the market drops, I'll sell. From two different Elliot Wave theorists, this market can go either direction. Good luck everyone!
http://www.tradeyourwayout.com/
Addendum: In looking at the SPX, DAX, Nikkei, & BSE (India), they all look like they want to turn down. But I've seen this before, and instead of turning down, we continued up. Just before the close, I saw a last second 12.x million sell in the SPY. You can verify this if you look at the intraday volume.
Monday, I expect a gap down and I'm buying at the open. If the market drops, I'll sell. From two different Elliot Wave theorists, this market can go either direction. Good luck everyone!
Thanks Petsamo,
Futures force me to reconsider alternative count.
mu.
There may be two move subwaves UP to DMA50 1139.15 or measured move targets near SPX 1140,
before the end of Wave 2]b)c.5:5 or Wave 3]1)1.5:5v
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A drop below the red line at 1108 favors Wave 2]b)c.5:5
A Shooting Star will be good for the Bears.
Note: Divergences in RSI and MACD (15-minutes chart).
Stocks set to surge
Jun 21 6:44am:
U.S. stock futures and world markets soared Monday after China signaled it would let its currency trade more freely.
http://money.cnn.com/2010/06/21/markets/premarkets/index.htm
Futures force me to reconsider alternative count.
mu.
There may be two move subwaves UP to DMA50 1139.15 or measured move targets near SPX 1140,
before the end of Wave 2]b)c.5:5 or Wave 3]1)1.5:5v
.A drop below the red line at 1108 favors Wave 2]b)c.5:5
A Shooting Star will be good for the Bears.
Note: Divergences in RSI and MACD (15-minutes chart).
Stocks set to surge
Jun 21 6:44am:
U.S. stock futures and world markets soared Monday after China signaled it would let its currency trade more freely.
http://money.cnn.com/2010/06/21/markets/premarkets/index.htm