Just bot an August 1470 ES call for 17.25. I think ESU7 just finished an ABC correction from the initial wave 1 (or wave A) up from the low two days ago. I expect the move up here to be corrective against the July 16-17 high. Target is a 62% retracement, stop is the ES low two days ago. Ya makes yer bets and then ya see what happens.
Indeed. I ended up OK for the day as an earlier short from the wave B or 2 high paid off. Should've held onto the freakin' put. On to Monday!
That is what most Elliott Wave traders seem to say. When using random methods, you get random results...
My call: Last 2 days, we just had the "b" wave of major wave "1" down. The "c' started today. Next week will complete "c" of "1". End of the first wave. Note: "c" waves are always violent. Dow 12500-700 likely. SPX continues to take out support levels like it wasn't even there. It's chilly out there...feels like March of 2000.
the Indicies are WC of W4 of WB: DJIA rally to '1450' completes B of ABC; next year begins 1-3 year WC of W4 decline to (estimates only): 38.2% 11750. 50% 10850. 61.8% 10000, then rally to 18000 W5 in 2012-13; SP500 W5 1900; Nasdaq W5 3600 ???