Ewj: elliott wave

SPX fell as low as 1770.45 then rebounded.
May be forming Right Shoulder to as high as 1813 then fall again.

 

NASDAQ broke Ascending Wedge supporting trend-line, previous low and MA(50) to as low as 4044.76 then rebound.
May fall again soon.

 

INDU dropped 1,232 points since the beginning of 2014 as impulsive 5 waves.
This may be the beginning of Cycle Wave E of Super-cycle Wave IV).
MA(200) and supporting trend-line broken.
There may be some rebound before going DOWN to next support at 14,719 low.

 

NASDAQ fell 257 points in 32 days.
May be the beginning of Super-cycle Wave IV).
Supports may be 3979 or 3855 and 3738@MA(200).

 

SPX fell 111 points in January + Feb 3.
Head and Shoulders pattern target may be 1,707@MA(200).
This may be the beginning of Cycle Wave C of Super-cycle Wave IV).

 

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 .

 

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

 

NASDAQ is easier counted as 3 waves DOWN than 5 waves DOWN.
Now at hourly MA(200) resistance and wave .b or wave .4 .
Next may be Double Zigzag DOWN or reverse Head and Shoulders pattern UP.

 

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.

 

Five waves DOWN may be c.5.
Now may be 5 or 7 waves.
For 7 waves, there may be shoot UP to 1960.
For 5 waves, there may be a set back to 1835.