Ewj: elliott wave

Crude Oil rebounded from 23.6% retracement ,
showed Head and Shoulders pattern, may fall a measured move to 38.2% retracement @ $84 , then
rebound to 23.6% retracement and
fall again another measured move to 50% retracement @ $74 .
Alwaleed: Saudis Seek Oil Price of $70-$80
http://www.bloomberg.com/news/2011-...s-70-to-80-oil-to-preserve-sales-to-west.html

$USD fell from 38.2% retracement to 23.6% retracement .
IF breakout of resistant trendline from A-B base and reverse Head and Shoulders neckline ,
$USD may rebound a measured move to 61.8% retracement @ 78 .
Hoenig Urges Fed to Raise Interest Rates
http://www.bloomberg.com/news/2011-...-rates-to-boost-saving-avoid-new-bubbles.html

 

Looks like another 5-waves DOWN has begun .
Dow 12290, SPX 1314, NASDAQ 2769 .

 

2 sets of 5 waves up ... complete on weekly chart

if its an abc .... then down

if its going to be 5 .... then much much higher

 

Another 5-waves may send
Dow DOWN to 12020
SPX to 1287
NASDAQ to 2688

 

Silver UP to $39 as expected then DOWN to $35 .
Crude Oil UP to $103.4 (near $105) then DOWN to $98 .
Gold over shoot to $1550 then DOWN to $1520 and rebounded to above $1540 again .

 

Hi Landis,
Long time no see .
What do you think of the Markets in general right now?
mu.

Lower lows in DJI, SPX and NASDAQ .
Looks like Head and Shoulders patterns .
May be on the ways to the targets .

 

Silver and Crude Oil may be going DOWN to targets .
Gold may go UP as Wave V]V)V5]5)5 to $1600 ,
or may be not ???

 

DJI, SPX and NASDAQ near measured moves with Ending Diagonals .
There may be a rebound soon .

 

DJI, SPX and NASDAQ fifth subwave of fifth wave just beyond measured moves :eek: .
There may be a rebound soon .
US Dollar index is weaker than expected .