Ewj: elliott wave

This is the Bulls only Hope that the 61.8% on the OEX holds... Otherwise its good night vienna

OEX makes up 66.7% of the SPX.....

 

With that 61.8% on the OEX

If the bulls want to be breave and catch the knife..

 

Reverse position again, because a higher high.
Hope this is the last time.
May be, may be not.

 

A second higher high, a second buy signal. Good Sign.

 

Set target at end of Microwave iii.iv. Reverse position when there is a lower low near target, then set stop at the last high.
May take one or two day to reach target. Try to avoid whipsaws.

 

Needs to Clear that 1469-70 areato change degree ...ie the +15 ALt correction level with fibs converging

 

Looks like a bit of a "flag" here very short term.

Could we squeeze back up a bit over 1468 ESZ, or will this consolidation fail and lead to a swift "re-test" of the lows again?

 

Bears will have another pop..

Its up to the bulls not to stop them and Wide spread through the area to trap the bears.

 

Rimm, Goog, Aapl, Csco getting hammered today and they have been the leaders. Congress just beat up Bernanke... I cant imagine why anyone would want to be long this market!

 

SPX Microwave .iii is a little bit shorter than Microwave .v, unless Microwave .iv is a triangle.
So Microwave .iii may be just Infrawave .iii:i of Microwave .iii, then we will have Infrawave .iii:v today instead of Subminuette Wave v tomorrow or on Monday.
In that case we will have another 200,20,40 points down move today. Oh! Too terrible to contemplate.:eek: