Hi blnbr, Your right about the 61.8% support as EWI ect will be looking towards at the least a wave wave ii low of a 5th... (ed or an even an ext..) (5 wave (c) looks way to sloppy compaired to the (a) but that just imho. ;-) The popular count....
Is the top in? The attached chart shows the extreme divergence between the mini Dow, Russell, Nasdaq. If the Dow manages to rally from here to a new high, the Russell and Nasdaq will never make it..... setting up a divergence that may signal the completion of our 5th wave. Robert
1006 area would be the ideal target... That 161.8 from before http://www.elitetrader.com/vb/attachment.php?s=&postid=2521182 And the 1:1 target of the 2nd & 3rd ALts 15min ES to highlight the 1:1)
OEX (top 100 of the s&p500) makes up over 66% of the SPX... We uses this index, as the main one to watch, when dealing with the +ve/-ve divergences for directional bais. 60min OEX
Mizuho are certainly going against EWI .... :eek: : Must of seen Mu's EUR counts Mizuho's Euro view.....
Hi Mup, My 0.618 support chart meant for the day trade. Sorry I did not mention that in my post. Thanks for posting the popular count version. I have been looking for that. The count is certainly good for my reference. I worked out my own count on the weekly chart recently (non-popular count, of course ). Itâs an overlap chart with wave(4) overlaps wave(1). Some counts may be incorrect on the chart. But my main concern is whether my count after wave(3) is ok and not against any rule. For example, is the last wave-aâs length too long? Is it ok that the last wave-3 is lower than the wave-b, etc. (Would you or Mu or Illum care to point out?) If these are clear, then my count would seem more bullish than the popular count. Iâll watch both scenarios to see how things pan out.