Ewj: elliott wave

[mu200411]

Mup = Long time, no see :eek: .
Reverse Head and Shoulders pattern confirmed.
Near double measured moves and resistance.
Is this another BULL Trap .

 

[mu200411]

Better late than never .
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Quote from mu200411:05-13-10 11:19 AM

Gold $1243
Gold $1300 and $1400 are within reached .
Can USD/EUR go UP to 0.82 .

 

[blnbr]

Quote from blnbr:

That's how I labeled on the weekly chart as well. Hope the market will move as predicted.

Even though S&P seems moving on the third wave of a 5-wave uptrend, in some similar cases it may fail and goes down instead.

See the forex GBP/USD daily chart example:

 

[PaulRon]

Quote from blnbr:

Even though S&P seems moving on the third wave of a 5-wave uptrend, in some similar cases it may fail and goes down instead.

See the forex GBP/USD daily chart example:

saw this chart and had to point out how obvious this count turned out to be, i had it early

 

[blnbr]

Quote from PaulRon:

saw this chart and had to point out how obvious this count turned out to be, i had it early

You may be right. But your ABC waves seem to have the same 'degree' as the 5 up waves from Jan.~Aug 2009. So I'd rather keep it simple and count another 5-wave move (down). And now GBP seems to be on an abc up swing or a bullish 5-wave move.

 

[mu200411]

EUR/USD and NASDAQ up 10% in 5 years.
The up move may be 1-2-3 of Primary 3] or
a-b-c of Intermediate 2]b) .

 

[blnbr]

USDJPY weekly chart starts to look interesting. If it's indeed a Tree-Drive pattern, price may touch the bottom within the next several days and have a powerful rally.

 

[blnbr]

SP500 hits upper channel line

 

[mu200411]

We've got our measured move UP to SPX 1155 .
Next may be a measured move DOWN to SPX 960 :eek: ,
Or SPX 577 :eek: .

Quote from mu200411:09-11-10 09:47 AM

4 Heads and 8 Shoulders .
Mr. Market is choosing between normal and reverse ones.
Bullish short term fractals.
May be a measured move UP to SPX 1155,
or a stall at the neckline SPX 1130 .

 

[PaulRon]

Hey guys, liking the short side here because of the hugh risk/reward in assuming that wave 2 just completed. I'll have my stop above yesterday's high, shown in mu's count. Good luck all.