Ewj: elliott wave

[mu200411]

If the Silver target measured move @ $23 looks absurd or you don't like it ,
I can comply by arguing that Wave II is a Zigzap so Wave IV should not be a Zigzag according to the Rule of Alteration ,
and predicting a triagular correction which will manipulate the target to $40 .
The Market will tell, soon enough, if I'm right or wrong .
BTW Silver Wave IV @ $23 is just 54% correction while Wave II is 65% :eek: .
Wave IVa] can reach $23 while Wave IVe] ends at $40 .
"What goes UP must comes DOWN" .

Quote from dmh724:05-25-11 05:12 AM


Silver to $23? Are you high? You havent been pegging these prices that well lately.

 

[mu200411]

USD/EUR is going UP as expected .
Crude Oil is still struggling in a symmetrical triangle around $100 .
Gold and Silver are going UP against advice ,
albeit in what look like corrective patterns (Zigzag and Running Correction) .
We may have to change camp if Gold and Silver go pass all the measured moves ($1540 and $39) .

 

[mu200411]

Gold shows Doji near $1540, there may be a revesion to mean @ MA(200) $1378 .
Silver meets resistance @ MA(50) $39.05 may revert to mean @ MA200 $29 .
Crude Oil may revert to mean @ MA(50) $105.55 then MA(200) 90.56 .
US Dollar Index after found support @ MA(50) 75.04 four days ago may revert to mean @ MA(200) 78.07 .

 

[mu200411]

INDU, SPX and NASDAQ show overlapping 5-waves and MA(50) break .
The moves may continue to 11800, 1280 and 2675 to get a balance look .
UTIL is the last to give MACD sell signal, may go DOWN to MA(50) 420.66 .

 

[mu200411]

Gold, Silver and Crude Oil move near target then reverse as expected .
Gold DOWN from $1530 to $1515 .
Silver DOWN from $38.8 to $36.2 .
Crude Oil DOWN from $101.78 to $100.52 .
USD/EUR not UP as expected .

Quote from mu200411:05-26-11 01:03 PM


Gold shows Doji near $1540, there may be a revesion to mean @ MA(200) $1378 .
Silver meets resistance @ MA(50) $39.05 may revert to mean @ MA200 $29 .
Crude Oil may revert to mean @ MA(50) $105.55 then MA(200) 90.56 .
US Dollar Index after found support @ MA(50) 75.04 four days ago may revert to mean @ MA(200) 78.07 .

 

[blnbr]

Dollar index still seems to be on downtrend, perhaps will reach the bottom by October. (But the USD may reach bottom against different currency in somewhat different time frame)

 

[mu200411]

Wave count for 2009 to 2011 may be 1]-2]-3]-4]
Wave 5] may end in the fateful year 2012, the beginning of Elliott's Grand Supercycle Correction :eek: .
The size of Silver Wave 4] is qualified for a wave four because it is bigger than Wave 2] .
Gold and Crude Oil Wave 4] should go DOWN a bit more to qualified for wave four .
MACDs show SELL Signals and some more room for DOWNWARD move.
$USD:$SPX looks poised for a reversal of trend .

 

[mu200411]

Crude Oil Wave 3]5)'s five subwaves are apparent .
Gold's and Silver's are not quite clear .
Silver's deep correction should be primary degree correction so Wave 3]5)5 may be a failure.
Gold's Wave 3]5)4 is quite small, another Wave 3]5)5 may appear from nowhere :eek: .
Gold $1540, Silver $39 and Crude Oil $105 may be fifth waves at measured moves .

 

[mu200411]

DJI, SPX and NASDAQ 2009 - 2011 charts look like Cycle degree Ending Diagonal.
This can be Wave V]V)V1]-2]-3]-4]-5] failure to be followed by very deep correction (80-90%) or
Wave V]IV)B1]-2]-3]-4]-5] followed by another 50% correction or
Wave V]V)V1]1)-2)-3)-4)-5) followed by 20% Wave V]V)V2] correction .
More Bullish count may be Wave V]V)V1]-2]-3]1)-3]2)-3]3)1-3]3)2 followed by the strongest Wave V]V)V3]3)3 .

 

[mu200411]

DJI low 12309, SPX low 1311, NASDAQ low 2739 fell short of the measured move targets 12200, 1305, and 2710 again .
MA(50)s and measured moves are resistances ,
there may be another 5-waves DOWN ,
if not the 2 years old Bull Market may resume UPWARD trend .

Quote from mu200411:05-21-11 02:21 PM


Reverse Head ans Shoulders pattern versus Big "M" patterns .
US Dollar index r-sHs, if confirmed, would pointed to 78.4 .
The Dow, SPX, NASDAQ confirmed "M" patterns with return moves might suggest Dow 12200, SPX 1305 and NASDAQ 2710 .