Ewj: elliott wave

A basic eyeball count for the NQ #F

elovemer

 

Status.
Short position closed at close although there was no higher high, just to log in profit because target was reached. Long position was not open because there was no higher high.

Scenario 1.
The Market drop to measured move -870.28, -85.25, -135.8601 or around 13092, 1467, 2725.
Strategy 1.
Short sell when there is a lower low.

Scenario 2.
The Market rebound above October 22th, 2007 low at -160.38, -18.04, -96.69
Strategy 2.
Open long position when there is a higher high. Set target at 100-150,10-15,20-30 points.

 

Still waiting for buy or sell signal.

 

Sell if Thursday low broken. > -18.94,-1.78,-1.66.
Buy at above today high.

 

Interesting 5 wave count on the Globex..

Gives a great "line in the sand" point to use

 

Stay out of seesaw Market can avoid whipsaws.

 

Short position opened.

 

Prepare to reverse position near October 22nd, 2007 low, when there is a higher high.

 

Prepare to reverse position when there is a higher high.

 

Position reversed. Set stop at the last low. Same upward target.