Ewj: elliott wave

Prepare to stop out and quit for today if there is a new high.
Long position still intact.

 

No news is good news.

If the Market is satisfied with yesterday correction it may move up another 400, 40, 80 points in Minute wave 5)1.1 or 5)1.3.:eek:
If not the Market should open in negative territory which is not the case because Futures point to a strong opening.

Our EWMTer is maintaining a long position and looking for an opportunity to trade a Minute Wave correction (100-200,10-20,20-40 points).

Strategy for today.

Drift up happily with the Market.

There is a non-profitable shorting opportunity at 13810, 1521, 2690 which only a really bad news can turn it into a profitable one.

 

Market stalls. Short if there is lower low, place stop at last high.
Just for fun.

 

Non-confirmation. Better stay put.
Dow sideways, S&P down, Nasdaq up.

 

The Market is dragged down by its own weight without supporting news, good time to consider short.

 

Sell short at next new low.

 

S&P follows NASDAQ up, quit for today, no opportunity for a short.
Long position intact.

 

Another opportunity for short arise.
Short if there is a lower low.

 

Short position placed for a triple top pattern. Set stop at previous high. Target at equal leg, but wait for a Head and Shoulders pattern to develop, to get a larger target gain.

 

Nearly stop out now, if it is not an ascending wedge.