Ewj: elliott wave

[mu200411]

INDU rebound continued as 5 or 7 waves.
7 waves count may be followed by a shoot UP to 17,000.
5 waves count may be followed by a set back to 16,050.

INDU rebounded as expected from 5-waves DOWN.
This may be wave 2 which usually ends near wave .4 .
There may be wave 3 to 14,719 .

 

[mu200411]

$USD cannot pass MA(200) and fell as Big M.
Big M target = 78.99.
Rebound target = 82.15.

$USD going UP to 82.0 if able to pass MA(200).

 

[mu200411]

Gold did not go DOWN to $1150.
May be AB-base.
Gold overshot $1300 to $1400 then fell bact to $1266.
May be going UP to $1480 or DOWN to $1150.

Gold at resistance $1520-$1265.
AB-base => $1300.
1-2-3-4-5 => $1150.

 

[mu200411]

$USD approaching "Big M" 78.99 target.
May be a triangle.
If true a rebound may follow.

$USD cannot pass MA(200) and fell as Big M.
Big M target = 78.99.
Rebound target = 82.15.

 

[mu200411]

INDU failed to shoot UP to 17,000 due to resistance at 16,660.
An Ending Diagonal is forming.
A fall below 16,200 may confirm this.
A fall below 16,000 may confirm a "Big M" pattern.
A fall below 15,300 may confirm a Bigger "Big M" pattern.
A rise above 16,660 may re-call 17,000 target.

INDU rebound continued as 5 or 7 waves.
7 waves count may be followed by a shoot UP to 17,000.
5 waves count may be followed by a set back to 16,050.

 

[mu200411]

So it was a 5 waves UP and there was a return to 4250 as expected.
After that a Head and Shoulders pattern was in force.
NASDAQ made a false break to 3946 then rebounded to 4177.
If 3946 is broken, measured move target may be 3760.
Head and Shoulders target may be 3650.
If 4177 is broken, measured move target may be 4240.

So it was 3 waves DOWN.
Now is 5 waves UP or 7 waves UP.
For 5 waves UP there may be a return to 4250.
For 7 waves UP there may be a shoot UP to 4600.

 

[mu200411]

SPX did not fall as expected but shot UP to 1897.
An Ending Diagonal may finish at 1920.
A "Big M" pattern may be confirmed at 1820.

SPX rebounded as wave 2 to near wave .4 .
There may be wave 3 to 1690.

 

[mu200411]

Gold broke support at $1250 may be going DOWN to $1214, $1187 or $1147.
Note: Triple bottoms test at #1180.

Gold fell from multiple resistances.
May be the beginning of Wave 5. Measured move target = $1110.

 

[mu200411]

Silver triangle broke out DOWNward.
May be going to $16.85 or $15.90 .

Silver may be moving DOWN as Wave IVc]5)5 to $16.5 .

 

[mu200411]

NASDAQ rebounded to form a Head and Shoulders pattern.
If confirmed NASDAQ may go DOWN to 3820.

So it was a 5 waves UP and there was a return to 4250 as expected.
After that a Head and Shoulders pattern was in force.
NASDAQ made a false break to 3946 then rebounded to 4177.
If 3946 is broken, measured move target may be 3760.
Head and Shoulders target may be 3650.
If 4177 is broken, measured move target may be 4240.