Ewj: elliott wave

Head and shoulder failure. Good place to short again!

 

Short position opened for the last time today. Set stop at the last high.

 

Prepare to reverse position if the reverse Head and Shoulders pattern is confirmed.

 

Who could believe the Market would go down another 300, 40, 90 points to 12866, 1410,2493?

 

Mup and Mu, please share your thoughts on the way I have labeled this YM chart from the Dec. 11 high. My labeling has wave II of C much smaller than wave IV of C... some uncertainty there.

 

Rob I carn't seem to load that pdf,

Update on that SPX 60min scribble from the previous pages.. still on the simple i,ii untill it proves otherwise...

 

Still would not be short this market.

 

My trade setup update... from the post on Dec. 11 pg. 209. I have labeled the decline from Dec. 11 as an A-B-C and moved my stop from breakeven(1514) to 1476 just above todays high in the March ES. If we take out todays high I no longer want to be short. The rally from yesterdays low looks like a 1-2, I-II

 

Today's high at 1464.40 will be very KEY for tomorrow's trade . . . Must push above that level in order to get things going on the upside.

 

Rob,
If A is a three, i.e., an a-b-c instead of a five 1-2-3-4-5, then the II or IV wave should not be a zigzag.