Ewj: elliott wave
- Thread starter mu200411
- Start date
Is this the beginning or ending of a correction.
Beginning = Wave IV)C1]3).
Ending = Wave V)I1]4).
The red line will determine which is the right answer.
Note: Big "Big M" and Very big "Big M" pattern in INDU, SPX, TRAN and NASDAQ.
Note: Very long Ascending Wedge or Diagonal in UTIL.
Note: Dow Theory "Non-confirmation" between INDU and TRAN.
TRAN's "Big M" pattern may be the first to be confirmed.
Note: Weekly RSI and MACD SELL Signals.
Beginning = Wave IV)C1]3).
Ending = Wave V)I1]4).
The red line will determine which is the right answer.
Note: Big "Big M" and Very big "Big M" pattern in INDU, SPX, TRAN and NASDAQ.
Note: Very long Ascending Wedge or Diagonal in UTIL.
Note: Dow Theory "Non-confirmation" between INDU and TRAN.
TRAN's "Big M" pattern may be the first to be confirmed.
Note: Weekly RSI and MACD SELL Signals.
$USD and $XEU is at important level, the necklines of Head and Shoulders pattern.
Next may be a rebound or a break down.
VIX reverse Head and Shoulders confirmed, can go UP to 24, 27 or 47.
Gold and Silver if break DOWN can go to $1400 and $23.
Note: Weekly MACD SELL and BUY Signals.
Next may be a rebound or a break down.
VIX reverse Head and Shoulders confirmed, can go UP to 24, 27 or 47.
Gold and Silver if break DOWN can go to $1400 and $23.
Note: Weekly MACD SELL and BUY Signals.
Gold and Silver rebounded as expected 
.
Resistances may be at $1600-$1620 and #28.5-$29.5.
Crude Oil posted a weak rebound.
VIX at 24.49 nearer to 26 target.
$USD and $XEU may fall and rebound from resistance and support at 82 and 126 soon,
then break DOWN to 86 and 120 as Wave 5) .
But wave 5 is treacherous sometimes it shortens, sometimes it extends, sometimes it does not show up at all :eek: .
.Resistances may be at $1600-$1620 and #28.5-$29.5.
Crude Oil posted a weak rebound.
VIX at 24.49 nearer to 26 target.
$USD and $XEU may fall and rebound from resistance and support at 82 and 126 soon,
then break DOWN to 86 and 120 as Wave 5) .
But wave 5 is treacherous sometimes it shortens, sometimes it extends, sometimes it does not show up at all :eek: .
After 10% most indices come close to supports, the MA(200) and the tops of Wave 1)s.
If the indices fall below top of Wave 1)s, all will know that this is not Wave 4).
And Mr. Market doesn't like that.
So the indices will rebound from supports and RSI will rise from Bear territory the first time (the third time may be real BUY Signal) .
Resistances may be at 12700, 1360, 2900 and 5030.
If there is no rebound Wave IV)C1]3) is more likely.
Note a lot of "M" and sHs patterns.
If the indices fall below top of Wave 1)s, all will know that this is not Wave 4).
And Mr. Market doesn't like that.
So the indices will rebound from supports and RSI will rise from Bear territory the first time (the third time may be real BUY Signal) .
Resistances may be at 12700, 1360, 2900 and 5030.
If there is no rebound Wave IV)C1]3) is more likely.
Note a lot of "M" and sHs patterns.
Gold and Silver rebound to near resistance, should turn DOWN soon.
Crude Oil DOWN below $92 support, may go DOWN further.
$USD reached resistance and stalled. Support = 80.75.
$XEU reached support and rebounded. Resistance = 129.
VIX near MA(200) resistance. May set back a bit.
Note completed multiple "M" and "sHs" patterns.
Crude Oil DOWN below $92 support, may go DOWN further.
$USD reached resistance and stalled. Support = 80.75.
$XEU reached support and rebounded. Resistance = 129.
VIX near MA(200) resistance. May set back a bit.
Note completed multiple "M" and "sHs" patterns.
I recently talked with an old ex-floor trader who worked the S&P500 contract back as early as 1981. He used the first IBM PC issued, stock with only 32 KB of memory. He would use it to chart this and that after he had manually entered in data he got from the New York Times or something.
He said he bought some software from Prechter that dealt with Elliot Waves....for $4000 for some kind of lifetime agreement. He's since lost his floppies. Is Prechter still around? Would he have replacement floppies?
Anyways, the ex-floor trader had a lot of good things to say about Elliot Waves and this software.
He said he bought some software from Prechter that dealt with Elliot Waves....for $4000 for some kind of lifetime agreement. He's since lost his floppies. Is Prechter still around? Would he have replacement floppies?
Anyways, the ex-floor trader had a lot of good things to say about Elliot Waves and this software.