Ewj: elliott wave

Just intraday rebound .
Measured move target for Wave 2]c)3 = SPX 1025 .
Wave 2]c)5 target = SPX 950 (%mm) or 910 (mm) .

 

5-3-5-v-iii .
There should be another v UP and 5 DOWN ,
to SPX 1000 .

 

My analysis is pointing to a C wave down in the S&P. If true, we might see a retest of lows. Someone please tell me I'm wrong.

 

Wave 2]c)4 reached target .
Next should be Wave 2]c)5 to SPX 1000 .
RSI cuts 30% line UP for the second time.
The third time would be the real BUY Signal.
MACD is still going DOWN.
DMA(200) becomes resistance.

 

Mu, your "Major 1" wave looks like a "B" wave to me. Please explain why you think it is a "1". You're entire analysis depends on this assumption.

 

huckabilly
"B" wave is an alternative count.
The correction will be a deeper 5-waves to SPX 930.
mu.

 

Nasdaq reverse Head and Shoulders.
50 - 80 points UPSIDE potential.
INDU & SPX may follow.

 

r-sHs was not confirmed .
Wave 2]c)4 looks like a double zigzag .
Wave 2]c)5 target = SPX 1000 .

 

Oops!!! :eek: .
A 30 points drop in SPX .

 

We reached our previous target = SPX 1040.
Sentiment became too negative and began to change direction.
MACD began to change direction.
RSI rose from 30% level for the third time.
Our r-sHs and the Hammer failed.
Another bigger r-sHs may also fail.
If not Wave 3] might have begun .