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

Quote from 9999:

Hello Tony,
very interesting discussion. I'd like to ask you if you use any Fibonacci ratios in your analysis.
Regards and good trading!
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Hi 9999 :)

To answer your question...yes, but usually only near the end of intermediate term moves.

During an advance or decline I use what I call EW pivot points, they seem to work a lot better. They are simply levels, where the index runs into support or resistance, depending upon it's trend.

For example:
The SPX during the correction, AND this advance has certain levels it must overcome:
1246
1234
1221
1212
1200
1191
1184
1174
Check a bar chart and you'll see what I mean.

Today the SPX finally surpassed 1212; 1200 should act as support and 1221 is next resistance.

good trading!
 
Hi Tony,

Just want to clarify, are the EW pivots based on previous support and resistance or are the calculations proprietary? Thanks.
 
I assume there won't be any level when the price advances beyond all time high? Is that correct? Or are there other projections?

Thanks.
 
With all time new highs, fibonacci ratio's work well
We may need that for the DOW
But for the SPX and NAZ EW pivots already exist

The NAZ hit a point shy of 2165 this morning, and retreated, trying it again now...it's amazing how thse psychological levels work
 
Quote from gharghur2:

We need the following closes to confirm an 'objective EW' trend reversal, end of correction:

SPX 1227
NAZ 2156
DOW 10,536

Everything else looks in order: MMI rising, 5 wave patterns during the advance, an acceleration upside gap this past monday, and a myriad of technicals indicating that an intermediate term bottom is in. For more info and charts, charts, charts:

http://spaces.msn.com/members/caldaroEW/

good trading!
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With today's close in the Nasdaq at 2160.22, we now have confirmation of a new uptrend in the markets. The leader naturally had to be first ! The SPX and DOW should follow shortly.

What does this mean?
Over the next few months the NAZ will reach a minimum of 2356 (wave iii = wave i), or 2560 most probably (wave iii = 1.618 x wave i). See chart :

Good trading :)
 

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A close on this coming Friday > 1236.80 will lead to a test of the old highs at 1245.86 SPX.

Assuming that a Wave III is at work here, one can target 1434 as the minimum target over the next 6-9 months, which is essentially a 15% rise. A close above 1254 on a weekly basis will confirm this longer term target.
 

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Hey Mike,

I like your chart, and I'm glad we're on the same wavelength :)

Friday, 1236.80, that's do-able, only 1234 in the way once we confirm with 1227. Yes agree, 1246 would be next!

Six to nine month target of 1434. Hey I buy it all :)

I have fibonacci projections of: 1280 - 1346 by Jan/Feb. '06
1280: wave iii = wave i
1346: wave iii = 1.618 wave i

Nice post!
tony
 
Quote from gharghur2:

Hey Mike,

I like your chart, and I'm glad we're on the same wavelength :)

Friday, 1236.80, that's do-able, only 1234 in the way once we confirm with 1227. Yes agree, 1246 would be next!

Six to nine month target of 1434. Hey I buy it all :)
More...

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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