Ewj: elliott wave

Crude Oil falls big too .
May be the beginning of Wave Cc]5) which can go DOWN to $65 :eek: .

 

TRAN hit lower low, Dow may confirm soon .
MACD turn DOWN from trigger line, no BUY Siganl.
RSI turned DOWN, may give a second false BUY Signal soon.

 

SPX:
Wave V]IV)C3]2) ended near measured move, previous wave four and fibonaci advancement as expected .
Wave V]IV)C3]3)1 and 2 might have ended.
Wave V]IV)C3]3)3, the strongest wave, needs another panic to break Wave V]IV)C3]1) low .
Wave V]IV)C3]3)5 may go DOWN as low as 1020 or beyond :eek: .

 

TRAN had a lower low, Wave V]IV)C3]3) is likely .
Dow may need another panic to break below V]IV)C3]1) , Aug 2011, low .
TRAN and Dow may need more panic to break below V]IV)C2]b) , July 2010, low .
INDU's and TRAN's Wave V]IV)C3]3) can go DOWN as low as 9400 and 3350 respectively :eek: .

 

Gold's wave five extended again .
Next measured move will send Gold to $2000 .
The problem is sometimes wave five does not show up :eek: .
Just when everybody is waiting for it to unload to someone else .

 

Silver count is best fit by an irregular correction UPWARDS .
61.8% retracement = $43.2.
Measured move = $43.6 and $46.
"W" pattern target = $44.
Silver UP move may end arround these number .

 

Mu, have you joined the Prechter Super Bear Count?

 

ericmoles,
I once thought 2000-2007 Bear Market is a Cycle Degree wave.
Supercycle Wave ends with collapse of some countries or economic systems.
After the falls of so many Arab regimes,
2000-2011 Bear Market should be classified as a Supercycle Degree wave.
This Supercycle Wave IV) might have begun in 1987 and not ended yet.
Supercycle Bear Market may fall 50% - 70%.
Precther's Grand Supercycle Bear Market can fall (343.45-42.84)*100/343.45=87.5%

 

The last viable Bullish count is Intermediate Wave V)I5]5) failure in Diagonal Triangle type II .
And we are now in Primary Wave V)IIc] which may end near Primary Wave V)I2] end around SPX 1000 .
Weekly RSI may show BUY Signal after a rebound from near SPX 1000 .

 

.... market might be
finishing up wave 1 down
-------------------------------------------------
wave 2 .... could retest 1250 or so
then get ready for the big drop
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just a possibility