Ewj: elliott wave

This is very interesting to me . . .

Peabody Energy sees slowing China coal demand

http://www.reuters.com/article/marketsNews/idAFSYD52822420090812?rpc=44

This was not mentioned by the CEO at all in their conference call of two weeks ago. If anything, they were looking for an uptick in met coal for the second half of the year and were so confident in their outlook that they actually gave "guidance" for the first time THIS year!

Hmmmm...

 

A reverse Head and Shoulders pattern would be great for the Bulls .
They would hope for it .

 

If my math doesn't fail me, the 1008.22 area would serve as the .618 retracement, eh?

 

Day ses ES fibs

5min ES

 

One more surge ahead ?

 

.... looks like 3 waves so far ... on rth ... from the low.... today

.... one more could do it.....

 

There's the gap close.....


Benchmark ALt is that (-6) so as long as any pull backs don't overbalance -6 then the bulls are still in the driving seat.....

 

Reverse Head and Shoulders pattern confirmed ,
albeit a somewhat small right shoulder .

 

Those alts...
Still can have a 5th while they hold...


5min ES

 

Me likey.

Meanwhile, the Fed can come out with a more "specific" directive on their website tomorrow in regards to quantitative easing, the TALF program, etc.