Ewj: elliott wave
- Thread starter mu200411
- Start date
Gold rebounded from $1300 target.
Should stay between $1300 -$ 1530 for sometime before next leg DOWN.
Silver rebounded from $23 target.
Should stay between $23 - $27 for sometime before next leg DOWN.
Crude Oil rebounded from $85.5 target forming a reversed Head and Shoulders pattern.
Now at r-sHs target near $97. May be turning DOWN soon.
$XEU managed to regain 132 target again.
If MA(50) at 130.39 broken, $XEU might fall according to concert action of short term "Big M" and long term Head and Shoulder patterns. First target may be 127.5 then 120.5.
Should stay between $1300 -$ 1530 for sometime before next leg DOWN.
Silver rebounded from $23 target.
Should stay between $23 - $27 for sometime before next leg DOWN.
Crude Oil rebounded from $85.5 target forming a reversed Head and Shoulders pattern.
Now at r-sHs target near $97. May be turning DOWN soon.
$XEU managed to regain 132 target again.
If MA(50) at 130.39 broken, $XEU might fall according to concert action of short term "Big M" and long term Head and Shoulder patterns. First target may be 127.5 then 120.5.
Only UTIL did as expected. Second RSI SELL Signal followed by second MACD SELL Signal with 5% correction.
Weekly UTIL's RSI first SELL Signal. There may be some rebound from MA(50). Strong support at 500. Next support at 440.
TRAN managed to rebound after weekly RSI and MACD gave first SELL Signals. Second RSI SELL Signal may appeared soon.
TRAN showed Candlestick Evening Star?
Strongest Index in strongest economy still catching new highs.
There may be Second weekly RSI SELL Signal soon.
Weekly UTIL's RSI first SELL Signal. There may be some rebound from MA(50). Strong support at 500. Next support at 440.
TRAN managed to rebound after weekly RSI and MACD gave first SELL Signals. Second RSI SELL Signal may appeared soon.
TRAN showed Candlestick Evening Star?
Strongest Index in strongest economy still catching new highs.
There may be Second weekly RSI SELL Signal soon.
Stock could be overbought forever; after the third SELL Signals in RSIs SPX and NASDAQ fell a little the march UP again.
Now there are RSI's SELL Signals again.
This time may be different if $USD runs UP due to reverse Head and Shoulder patter in weekly chart and "W" pattern in daily chart.
Note false break in $USD's "Big M" pattern.
Now there are RSI's SELL Signals again.
This time may be different if $USD runs UP due to reverse Head and Shoulder patter in weekly chart and "W" pattern in daily chart.
Note false break in $USD's "Big M" pattern.
The last Bearish count is 15 year Expanding Triangle Wave IV)D going DOWN to IV)E soon.
The Bullish count is V)I3]3) going to 4) sometime in the future.
9) "D" waves â "D" waves in all but expanding triangles are often accompanied by increased volume. This is true probably because "D" waves in non-expanding triangles are hybrids, part corrective, yet having some characteristics of first waves since they follow "C" waves and are not fully retraced. "D" waves, being advances within corrective waves, are as phony as "B" waves. The rise from 1970 to 1973 was wave [D] within the large wave IV of Cycle degree. The "one-decision" complacency that characterized the attitude of the average institutional fund manager at the time is well documented. The area of participation again was narrow, this time the "nifty fifty" growth and glamour issues. Breadth, as well as the Transportation Average, topped early, in 1972, and refused to confirm the extremely high multiples bestowed upon the favorite fifty. Washington was inflating at full steam to sustain the illusory prosperity during the entire advance in preparation for the election. As with the preceding wave , "phony" was an apt description.
http://www.elliottwave.com/tutorial/lesson7/7-3.htm
The Bullish count is V)I3]3) going to 4) sometime in the future.
9) "D" waves â "D" waves in all but expanding triangles are often accompanied by increased volume. This is true probably because "D" waves in non-expanding triangles are hybrids, part corrective, yet having some characteristics of first waves since they follow "C" waves and are not fully retraced. "D" waves, being advances within corrective waves, are as phony as "B" waves. The rise from 1970 to 1973 was wave [D] within the large wave IV of Cycle degree. The "one-decision" complacency that characterized the attitude of the average institutional fund manager at the time is well documented. The area of participation again was narrow, this time the "nifty fifty" growth and glamour issues. Breadth, as well as the Transportation Average, topped early, in 1972, and refused to confirm the extremely high multiples bestowed upon the favorite fifty. Washington was inflating at full steam to sustain the illusory prosperity during the entire advance in preparation for the election. As with the preceding wave , "phony" was an apt description.
http://www.elliottwave.com/tutorial/lesson7/7-3.htm
