Ewj: elliott wave

Gold, Silver and Oil have gone nowhere :eek: .

 

INDU's low = 12024, SPX's = 1277, NASDAQ's = 2670, UTIL's = 424 .

 

INDU, SPX and NASDAQ may go UP a measured move to 12280, 1305 and 2710 ,
or to the red lines at 12310, 1312, 2740 .

 

The rebound is a Bull Trap .
Our Running Correction turns out to be a Normal Irregular Correction .
Wave V]V)I4]c)5 should end 1-2% lower, near the tripple supports; sHs target, MA(200) and V]V)I4] level which are
11550-11750 for the Dow,
1250-1260 for SPX,
2600-2630 for NASDAQ,
4900 -5000 for TRAN and
390 - 410 for UTIL .
The falls below these levels should be False Breaks .
Currently there is no BUY Signals .
What if the Big "M" is confirmed ?

 

Note fractal relationship between Dow's March 2011 - June 2011 and Dow's 2000 - 2009 .
If Wave 5] appears with a new high, Elliott may be right .
Wave V]V)V5] may end in 2012 as Elliott said some 60 years ago .
If there is no new all time high from now on then Prechter is right .
Cycle Wave III of Supercycle Wave I) of Grand Supercycle Wave I] of Century Wave I} of Millennium Wave ONE of Supermillennium Wave ONE) of Subepochal Wave ONE] of Epochal Wave A} might have begun :eek: , and
we'll go all the way DOWN to DOW 1 some millenniums from now .
If after Cyclical Corrention from 2012 - 2015 there is a new high, this may be Cycle Wave V]V)III .

 

Commodities DOWN moves are long overdue ,
this is the usual process of distribution .
If Zigzag Wave b had ended Gold's target would be $1460.
If Irregular Wave b had ended Silver's target would be $28.
If Triangular Wave b had ended Crude Oil's target would be $87.5.
If Double Zigzag Wave b had ended US Dollar Index's target would be 77.
Gold MACD SELL Signal given.
Silver MACD SELL Signal and $USD MACD BUY Signal soon.
Crude Oil triangular breakout and MACD SELL Signal soon.

 

If no one would like to risk 20% UP move for 1% DOWN move, there may be a "Morning Star" Candlestick pattern today .
"May 2011 - June 2011" correction tooks more time than "March 2010 - April 2010" so it is qualify for Primary 4] status.
Wave V]V)I5] may go UP to 1.618 Wave V]V)I3] near SPX 1580 .

 

AUD/USD may take sometimes before going UP to 1.15 ,
but may go DOWN to 1.02 first .

 

After Dow's 1000 point, SPX's 100 point and NASDAQ's 250 point fall in 6 weeks, there come
Morning Star look-alikes in most indices ,
from just above MA(200),
then what ?
A 20% UP move ?
Note:
RSIs rebound from just above 30%, pre-emptive BUY Signals.
MACDs will show BUY Signals in a few days.

 

MACD SELL Signals in Gold, Silver and Crude Oil.
MACD BUY Signal in US Dollar index.
Will these Signals turn into false signals .