Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Wednesday, August 26, 2009
SPX- MINOR B EXPANDED FLAT
UPDATE 8-26
A mistake has been pointed out to me with the labels on this count. Since I re-use the charts and move labels around, I completely forgot to remove the Minuette waves labeled (i)-(v). This should be labeled as an a-b-c, which I believe I can do. I won't change this chart now until I see more confirming action in the market.
Let's just say right now there may be a Leading Diagonal forming off the 1037 high(this is assuming I change my count and make that high the top for [v]) from yesterday.
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This would be considered an alternate count that I would have for the current structure. MINOR B is not complete and we are working on an expanded flat.
One problem with this count is that Minute [B] is 1.50 x [A]. Per EWP guidelines, Minute [B] is typically no more than 1.38 x [A]. So it is not by much and it is more a guideline vs a rule so this may still hold as a potential alternate.
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IS IT GOING TO BE TODAY?
ReplyDeleteDREADFULL P3 WILL TRIGGER???
I AM GOING TO SHORT THE MARKET WITH THE LAST CENTS I HAVE.....
Jose,
ReplyDeleteAre your stops in place?
ohmy!!!
ReplyDeleteit is happening again... but i will keep my shorts, because keeny, dan and ewi will take me to gaminedes!!
i have faith!!
i am a beliver!!!
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