Ewj: elliott wave

Need to stay above 1509.45 SPX for the first 3 hours of the session, otherwise some of my short-term stuff says it's time for a pullback . . .

 

a 1-2-3 or an a-b-c?

 

Prepare to place a second short position when the lower trendline of the last triangle is broken and set stop at the last high. Unless the upper trendline is broken first!

 

Look like another 150, 20, 30 points on the upside. Prepare to reverse position.

 

I have 2 Scenarios that should spark some interesting discussion.
Each chart shows the trading in the Dow e-mini from the Nov. 26 low. The chart attached to this post is labeled as an A-B-C correction from the Nov low. Mup, Mu, and Landis... please share your opinion!

 

Here is Scenario 2 which is labeled as an impulse wave from the Nov. 26 low.

 

... dropping from 1515 for possible 4 wave of ED on 4 hour chart .... ES
.... could be totally wrong...

 

Rob
I agree that there may be wave 5 if this is Intermediate 5).
But if this is Minute 4)c.2, there may not be another wave 5.
Mu.

 

.... most i could make out on wheat was a bounce off of daily 100sma ....

 

Hi Rob

For proportion I'm just labeling that corrective move from Nov 30th to Dec 4th as either a wave 2 or B.

For the Bears, your Scenario 1 looks fine.

As for the Bulls, I would lable this move 1,2 i, as the start extended wave 3 move. see chart below