Ewj: elliott wave

$SPY Closed all long positions today and positioned to fully short for the next few weeks according to proprietary timing signal. Stops are set at SPX 1576 just in case.
 
The market might make a run to SPX 1578-1582 on Monday as it did not fulfill that target on Thursday. I'm fully short and will close all positions if the market closes above SPX 1576.
 
INDU went UP about one hundred points short of 14800, then fell and showed Bearish Engulfing.
SELL Signals in RSI, MACD and divergences.
Same picture in SPX plus a confirmed small "Big M" pattern.
Same picture in NASDAQ plus a confirmed small Head and Shoulders pattern.
TRAN was most bearish with confirmed Head and Shoulders pattern and "Big M" pattern.
UTIL showed some signs of topping.
Quote from mu200411:03-28-13 01:17 PM

INDU may be going UP to 14,800 but TRAN is showing Head and Shoulders pattern.
If INDU falls, "Big M" pattern will be confirmed.
Note also "Big M" patterns in SPX and NASDAQ.
Note a lot of divergences in MACDs and RSIs.
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Crude Oil went UP near $98 then fell sharply as expected.
SELL Signals in RSI. MACD SELL Signal soon.
Note a very "Big M" pattern.
Silver broke to new low as expected. May be falling to measured move near $25.5.
Gold still could not pass previous high and low and MA(50), and is now testing previous low.
Gold's and Silver's SELL Signals in MACD and weak RSIs.
$USD rebounded from 50% retracement.
$XEU met MA(200) resistance.
Quote from mu200411:03-28-13 05:07 PM

Reverse Head and Shoulders pattern made Crude Oil jump UP to $96.6. Now at measured move. There may be some set back soon.
Next resistances may be tops near $98.
$USD went DOWN below 82.0 then rebounded to 83.4, may be going UP to measured move.
MACD BUY Signal. RSI may go above 70% again.
$XEU didn't rebound as expected, but continue to fall below MA(200), may be going DOWN to measured move.
MACD SELL Signal. RSI may go below 30% again.
Gold could not pass previous high and low and MA(50).
Silver fell to $28, may break to new low soon.
Wait MACD SELL Signals.
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Closed 50% short yesterday and 25% this mnorning. Still 25% short and will exit either today or next week. Trade safe and all the best!!!!
 
All short positions have benn closed from SPX 1569+/- 1point and no long positions have been taken. Will post when and at what level positions will be entered. I'm still very bearish on the market and the low will not take place until few days or weeks from now. Following Elliot Wave structure plus my proprietary timing signal remain the key to identify the most possible and accurate turn date. Trade safe and all the best!!!!I want this thread to be alive and followed as I started following the best ET traders on this site. No need to mention names..they know who they are!!!

Trade safe and all the best!!!!
 
TRAN completed Head and Shoulders pattern rebounded to MA(50).
Weekly TRAN's RSI showed SELL Signal. MACD might follow soon.
INDU still strong, but showed divergences. INDU's weekly RSI at overbought level might give SELL Signal soon, same as MACD.
NASDAQ confirmed "Big M" pattern and rebounded from channel support.
NASDAQ's weekly RSI showed SELL Signal after multiple divergences.
MACD might give SELL Signal soon.
SPX's weekly RSI showed SELL Signal. MACD SELL Signal to follow.
"Big M" pattern might be confirmed soon.
 

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Crude Oil fell further according to RSI SELL Signal. MACD SELL Signal appeared as expected.
There may be rebounded from new Head and Shoulders neckline to the new left shoulder level then fall again.
Crude Oil is in triangles, break out on either side should be strong.
Gold made a false break then rebound from channel support and a hammer.
RSI BUY Signal and Hammer in weekly chart might send Gold UP to MA(50) or MA(200).
A new low in Gold will be a nightmare because of the multiyear "Big M".
Silver rebounded from previous lows and MA(200) near $26.5 with RSI BUY Signal. $29 will be a major resistance.
$XEU Bullish Engulfing, might rebound to 132 before falling again.
$USD Bearish Engulfing, might fall to 81.5 before going up again.
Quote from mu200411:04-04-13 03:16 PM

Crude Oil went UP near $98 then fell sharply as expected.
SELL Signals in RSI. MACD SELL Signal soon.
Note a very "Big M" pattern.
Silver broke to new low as expected. May be falling to measured move near $25.5.
Gold still could not pass previous high and low and MA(50), and is now testing previous low.
Gold's and Silver's SELL Signals in MACD and weak RSIs.
$USD rebounded from 50% retracement.
$XEU met MA(200) resistance.
More...
 

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