Ewj: elliott wave

Thanks Mup.
But I may sell at .382 - .618 retracement if there is a lower low.
Mu.

 

i think the 30 yr bond is giving the indication that the rally in the dow is over.

bgp

 

We got the US-EIA Petroleum Status Report in a few mins.

If the bears keep it below that alt (1474^6) then its the 61.8% @ 1459 here we come. However if the the price goes above that ALt then the bears best be very careful

The lesser ALt is at 1469.75 that also need to break to get the bears hard in other wise its a bear trap..

 

Mup.
This is my target range to look for sell signal.
Mu.

 

I see where your coming from

 

Long position closed.

 

pay attention to 30yr. bonds. on the volatile days, they work well with the dow moves.


bgp

 

S&P and Nasdaq new low but not the Dow.
Plan to buy again at measured move, if there is a higher high.

 

Here we are with an hour left to go in trading.... and the market on the verge of another huge selloff. If we collapse like yesterday we will be revisiting the August lows within 2 weeks.

 

Just eyeballing your DJIA FUTURES chart, a 275 point move to the downside off of the high gives you a 61.8% retracement target at -142 or 13,145.