Ewj: elliott wave

HERE IS A POSSIBILITY. AT THE LEAST, 1250 SHOULD OFFER STRONG RESISTANCE, HOWEVER, IF IT BECOMES SUPPORT THEN 1340'S IS POSSIBLE FROM A WAVE COUNT OFF THE BOTTOM ON SMALLER TIME FRAME

 

Doji, Shooting Star and Hangman.
Wave 4.b versus Wave 5.1 .

 

it tested weekly MA50 in Apr.2010, but failed, since then beginning sideway wave 4;

failed again in Nov;

but...standing above it at the moment, wouldn't rule out the possibility of it falling back down again.

consider:
1. EU debt contagion development;
2. Chinese tightening measures;
3. 2011-12 US & European secondary debt problem;
4. QE vs rate rise at the end of 2011

 

Fractals reverse Head and Shoulders and
Wave 1)2)3)4)5) and Wave 12345.
After 5 ends there may be a fall to 50WMA ?

 

Price might meet major resistance when it moves to Parallel line 2

 

Can short term fractals predict long term outcome?

 

Fifth subwave 5 of wave 5 at measured move .
MACD and RSI show divergences with indices
MACD is turning down .

 

I think sometimes they do. This also happens in E-wave counting.

 

Equity Put/Call Ration at resistance level ,
while the wave count is five .
This should mean somethings, shouldn't it ?