Ewj: elliott wave

Bearish Scenario 3.
Subinuette 4)c.3:4ã ended as a symmetrical triangle. The Market is going down as 4)c.3:5 which may be equal to :1 and :3 which are about 400, 50, 110 points long.
Strategy 3.
Hold short position to target at ~ 12866, 1410, 2493.
NASDAQ reached new two day high, DJI and S&P went sideways, DJT reached new two day low.

 

Futures point to a higher open.
Prepare to cut loss.

 

My trade setup final update. Initial short on the March ES mini on Dec. 11 at 1514. Wednesday of this week moved my protective buy stop from breakeven(1514) to 1476. Stop hit overnight, trade exited with a profit of 38 points or $3800.00 dollars... this market looks like it wants to go higher!

 

Nice Xmax bonus there Rob

 

The old saying used by Frost:

Fibonacci leads, then Waves follow..

 

If anyone's been listening . . . I have been saying this ALL week long.

Sometimes you have to put aside your wave "count" for a few days and simply observe what is happening in the stock market, and how not only the indexes, BUT STOCKS are acting.

They've been telling a consistent story all week long.

Good Luck to All.

 

Cut loss at open. Prepare to open short position.

 

Short position opened. Set stop at the last high.

 

Kinda pointless to trade this pre-holiday garbage isn't it?

 

Short position stop out. Enter long position. Set stop at the last low.