Ewj: elliott wave

LOL!

Bloggers looking for an "X" wave rally after completing a 5-wave down [c] of B.

And then another "three" which would form in a "double-three".

A similar process like the 956 to 869 correction

 

Bob Prechter cnbc slot...

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maybe the Mods can clean the embed link up ? thx

 

50% of wave 3

... and 50% of the whole burrito

 

Perhaps YM is being formed a v of c of 4 from 13 th august impulsive downmove

http://charts.dacharts.net/2009-08-18/ym.gif

 

Interesting, coming back to test pre Leh downtrend.

 

Five waves UP .
There may be a measured move UP .

 

Not been paying much attention to the charts today... Just fired them up now...

As an eyeball, one more push for a lesser 5th into that 990-991 (ES) area to finish off the c .. Things change if it get above that 991 area....

See what you think
60Min ES

 

Louise Yamada likens this phase of the Bear market to that of the rally in 1938 which saw 60% gains in the Dow, followed by the low in 1942.

She also makes note of a divergence in volume occurring here as opposed to the peak back in May.

In any event, it might be interesting to check out the 1932 - 1938 and the subsequent low in 1942 for an analog.

http://www.ritholtz.com/blog/wp-content/uploads/2009/05/1938-barrons-yamada-20090522.gif

No matter how you slice it, those years saw GREAT "two-way" trading markets.

 

Hard to tell if 5 full waves down from ES ~1015 has completed.

983~985 has to hold for some more downmove

ESU9 60min

 

Not technical at all

As ed points out the 5th could indeed be finished or its morphing into a larger pattern, so for now I may as well enjoy the "mini heat wave" over here while it lasts & I'll see what mischief the markets upto a bit later on.....