Ewj: elliott wave

Status.
No position. USD is up everything else is down.
It may be time to increase cash position. Cash is king.
Or cash just dissipated to where it came from.:eek:
Scenario 1.
Minuette 5)1.3:2 had ended as a double zigzag on Friday. Monday will go up as Subminuette 5)1.3:3 to above December 11 high. 25 dSMA is buying on the dip.
Strategy 1.
Open long position.
Scenario 2.
Scenario 2.
Minuette 4)c.3:1 had ended as a diagonal triangle type II and Minuette 4)c.3:2 as a zigzag. The Market is going down as Minuette 4)c.3:3 equal to Minuette 4)c.3:1 to end at
13100.9492, 1435.0401, 2577.9101. There may be rebounds along the way down of not more than 100, 10, 20 points. 50 dSMA is selling on the strength.
Strategy 2.
Open short position.

 

Futures point to a lower open.
But Elliott Wave point to a rebound of 100,10,20 points in Microwave 4)c.3:3.iv or larger.

Who dare open long position after a negative open?

 

Long position opened. Set target at Infrawave 4)c.3:3iii.iii:iv.
Set stop at the last high.

 

Long position opened. Set target at Infrawave 4)c.3:3iii.iii:iv.
Set stop at the last low.

 

Stop out. Will try again.

 

Long position opened again. Set stop at the last low.

 

Stop out again.

 

Re-enter again.

 

Looks like some sort of double 3 W-X-Y on the SPX 60min.

The Y could go into a triangle pattern for some Alternation ?

 

Prepare to close long position at target when there is a lower low.