Ewj: elliott wave

Sentiment has changed.

 

USE/EUR .78 target reached .

 

SPX 1165 reached .
But the Hammer is not good for the Bears .
Wave 3]2)a-b-c versus Wave 2]a)1-2-3 ?

 

Target overshooted .
EUR/USD = 1.2690
USD/EUR = .7880

A correction versus an extension .

 

Dow Jones

How Much Lower ?

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I see the last several weeks as an A-B-C flat then an "X" wave (to 1209.36 on April 29th) and an A-B-C down again with 5-waves down in the C.

The "B" of the flat made a new high up at 1219.80 The "orthodox" high was back on April 15th, which coincidentally happened to be a Martin Armstrong "pi" date.

I believe we are currently in the 5th wave down of this last C.

I thought that yesterday's Wave (iv) might give us more of a "pop" back up to 1171 or even 1178, but it has not done so.

The first wave down in the final zig-zag was 23 points; it started at 1209 and declined to 1186.32 on April 30th.

Subtracting that 23 point leg from yesterday's SPX high of 1175 gives you a potential TARGET LOW of 1142 SPX.

Stay tuned!

 

Looks like 3 of 3 to the downside in progress

 

So, sentiment has really changed .
VIX, BPNYA, CBOE equity put/call ration .

 

Who pushes the panic button :eek: !!!???
Fours more SELL Signals .
SPX from 1170 to 1070, a 100 points drop .
And a 40 points rebound to 1130 .
SPX 1040 target is near .

 

DOW FALLS ALMOST 1,000, THEN REBOUNDS
http://www.thestreet.com/_yahoo/sto...ounds.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
SPX -70 then rebounds.
NASDAQ -300 then rebounds.