Ewj: elliott wave

[mu200411]

Wave 5 should end sometimes.
Equity Put/Call Relative to its 20-Day Mov.Avg. now @ 1.11.
June 2011's Equity Put/Call R20 high = 1.12.
Feb 2011's high = 1.11.
May 2010's high = 1.20.

 

[mu200411]

Why we under estimate Gold rise .
Because Gold override every measured moves :eek: .
and wave five keeps extending again and again .
Gold next target may be $1850 .

Quote from mu200411:08-08-11 12:46 PM

Wave 5 is treacherous, sometimes it doesn't show up, sometimes it fails, this time it extended, extends and will extend again .
Note: Gold's $1700 target reached .
Current , tentative, presumtive wave count = V]III)V5]5)5.5:5v .
http://www.elitetrader.com/vb/attachment.php?s=&postid=3262397

 

[mu200411]

The last UP wave may be Wave V]IV)C3]3)5.5 or Wave V]IV)C3]4) .
Next Wave V]IV)C3]3)5 or V]IV)C3]5) can go DOWN to $70-$71.
Wave V]IV)C3]3)4 should take a few days,
while Wave V]IV)C3]4) should take about a month.

 

[mu200411]

This multitude of threes should be a corrective wave .
Wave V]IV)Cc]4) which may end near $88 is more likely now .

Quote from mu200411:08-10-11 12:29 AM

Crude Oil rebound reaches measured move.
Wave V]IV)Cc]3)5.4 should end here .
Wave V]IV)Cc]4) may end near $88

 

[mu200411]

SPX's Wave V]IV)C3]1) might have ended .
Wave V]IV)C3]2) may retrace 38.2% of Wave V]IV)C3]1) and end near 1195.
If Wave V]IV)C3]2)c = Wave V]IV)C3]2)a, Wave V]IV)C3]2) may end near 1190

 

[mu200411]

Dow's Wave V]IV)C3]1) might have ended .
Wave V]IV)C3]2)c retreated from resistances at V]IV)C2]a) high and measured move might have ended too.
If not this wave may end at 38.2% retracement .
Note: Complete wave count, but wave can extend :eek: .

 

[mu200411]

Crude Oil's Wave V]IV)Cc]4) approaching $88 target .

 

[mu200411]

The Crude Oil's Bull Cult is dead (for now) .
WaveV]IV)Cc]3) might have ended near Head and Shoulders target, 61.8% retracement of Wave V]IV)A and 50% retracement of Wave V]IV)B .
Wave V]IV)Cc]4) may end near end of Wave V]IV)Cc]3)4 @ $88.32

 

[mu200411]

Dead Cross in charts of SPX, NASDAQ and Crude Oil.
Near dead in INDU's and TRAN's.
Rebounds showed a-b-c with c nearly equal to a.
RSI show BUY Signal as expected ,
the third RSI BUY Signal may be a true signal.

Quote from mu200411:08-09-11 01:32 AM

INDU's, SPX's, NASDAQ's, TRAN's and UTIL's Wave 5 near measured move, may rebound soon .
Note: RSI below 30% may give BUY Signal any time, the third time may be the real BUY signal .

 

[mu200411]

Crude Oil may fall after Long Leg Doji and measured move.
$USD on balance @ MA(50) can go UP and/or DOWN.

Margin increase may prevent further wave five extension in Gold as in Silver :eek: .

Gold Hits Record Highs But Fragile After CME Margin Increase
Written on August 13, 2011 by forex-fx-4x in Commodities And Indices
http://www.forex-fx-4x.com/gold-hits-record-highs-but-fragile-after-cme-margin-increase/

Silver Has Biggest Two-Day Drop Since 2008 on Margin Increase; Gold Falls
By Pham-Duy Nguyen and Nicholas Larkin - May 4, 2011 1:54 AM GMT+0700
http://www.bloomberg.com/news/2011-...since-2008-on-margin-increase-gold-falls.html