Thats some interesting use of wave numbers on that SPX chart elovemer.... :eek: Oh wheat also had a 38.2 at that recent low...
A quick doodle on the INDU. The Bear case for a FED sell off. (see last chart for bull case) Just Finishing off either a X-X or a D wave. Then its down to new lows in a Z wave of a Triple 3 or an E wave of a Triangle.
... if the high was the end of wave 5 ..... ..... and if we complete another 5 waves down from here..... ..... then my chart will be looking pretty good .... maybe ...
While its quiet a big picture look of the Dow since 1982. This final phase could be part of an ED wave V or some sort of X wave.
Short position closed. Long position opened. Set target as Friday scenario 1. Friday sideways wave may be Minuette 5)1.3:2 and today wave may be Minuette 5)1.3:3 and now Subminuette 5)1.3:3iii is going to surpass today high.
elovemer, Wave d is too small. It should be 50% or more of wave b. But I think of this count too. Mu.
Status. Hold long position. Scenario 1. As Friday scenario 1. Scenario 1 target= 13978.1396, 1543.3699, 2770.26 Dec 10 Close= 13727.0303, 1515.96, 2719.4299 Points to target= 251.1093, 27.4099, 50.8301 This is about three waves of (150, 15, 30) - (50, 5, 10) + (150, 15, 30). Strategy 1. Hold long position until the target is reached. Scenario 2. Minute 4)c.2 will end after 2:15 today. Strategy 2. "Buy on rumor, sell on the fact". Close long position and open short position.