Objective Elliott Wave............

Yes! ... second wave up :)

It looks like today is part of a 4th wave with one more push up to go. I just posted the SPX chart on "resumption of the bull" thread.

Had I noticed you had written would have posted it here.

Here's the NAZ count anyways
 

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Got it figured out yet?....:D

Is not EW nothing but the same ole trend following techniques? I have always heard you never really know what wave you are in. I discarded it as redundant.
 
Quote from bighog:

Got it figured out yet?....:D

Is not EW nothing but the same ole trend following techniques? I have always heard you never really know what wave you are in. I discarded it as redundant.
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We are and have been in, since mid Oct. wave iii of 3 of V
See chart:
Tracking the little waves just makes it that much more interesting, rather than just sit around until wave iii completes.
 

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Quote from Apex Capital:

That having been said, I do believe that we are getting awfully close to the end of the first wave up in this Wave (3). Don't you agree?
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Mike,

Still bullish long-term and intermediate term, nothing has changed.

However, I took a closer look, last night, and I see some short term bearish divergences here: especially in the NAZ and DOW.
I'd be careful :)
 

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Yes, typical wave activity: 5th waves are usually the weakest.

The SPX has finally made a new high, the last to do so, but the divergences continue. It's a tough call from here, as to how much further the fifth wave will last, before we get a correction of this five waves up.
 
The SPX finally confirmed a new uptrend with it's close above 1227 today. Now, all major indices are in confirmed uptrends.

Targeting for iii of 3 of V: SPX 1280-1346 and NAZ 2356-2560 by Jan/Mar.'06
 

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Quote from gharghur2:

The SPX finally confirmed a new uptrend with it's close above 1227 today. Now, all major indices are in confirmed uptrends.

Targeting for iii of 3 of V: SPX 1280-1346 and NAZ 2356-2560 by Jan/Mar.'06
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Tony,

good call staying long this mkt...

i think SPX is still below the trendline from the previous peaks earlier this year..which is around 1236 in the cash.

i also noticed today that the Russell 2000 didn't fully participate in the rally...usually in a reversal day like today, it should rock! What's your take on that?

Good trading!
 
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