SP 500 Candle Chart
Se så vackert marknaden fick sig en "election katapult" samt en bekant sesongs betonad utveckling. Strukturen har även en 5-vågs EW utveckling. Det borde inte komma som en overraskning att marknaden kan folfolja samma direktion med temporära stops eller interna struktur korrektioner. Potential uppsida kan nå 1240-1250 for SP 500. Mentala stops är lämpligast.
En annan syn..
Mentala stops avses när du anser det farligt att en trendvändning kan ske.
Inlägget är redigerat av författaren.
Lite correspondans kan man dela med sig..gallande grafen i #2.
Date: 11/19/2004 3:55:20 PM
Subject: RE: Elliot wave s&p chart
according to your s&p chart in the first wave down (1) their was a small rally that you did not count as a wave. In the rally (1-2-3) you counted a small sell off (2) as a wave. I was hoping that you could help me understand why it wasn't counted as a wave on the downside but was counted as a wave on the upside.
Thanks for your help.
XXXXXXX
Executive Director
Oppenheimer & Co. Inc.
------
Ok, I see what you're saying. Wave 1 from the top has an internal 5-wave structure. This structure can be better seen in the daily format. Though, its not perfect like textbook. It's not that I don't count the internal structure, but this 5-wave structure is what makes up the "large" wave 1. So, its more of a visual convenience that I draw this wave 1. Point wise, this comes to about 400 (1500 - 1100), or -27%. Waves have many sub-waves and it would be too much to point out in a weekly chart such as the one I have provided.
Wave 1 from the bottom, is also drawn from a visual convenience since this wave also has a "smaller" internal 5-wave structure. If you open the daily you'll see this. From a point perspective, its only 200 (1000-800), but from a percent perspective its about +25%. Almost the same move as wave 1 from the top.
As we can see, the SP 500 has clearly formed a larger 4-wave structure with internal sub-waves between 800-1100. If the 5-wave structure stays true to its form, then there is a good chance the Sp 500 will extend itself into a 5th leg - about 1230-40. Having said that, this long run can in itself be a smaller sub-wave of a much larger up trend. In this case, the whole run from 800-1240 can be counted as wave 1.
Hope this cleared for you.
Inlägget är redigerat av författaren.
Visa sida
Ogilla! 1
Gilla!
Snyggt chart med markerade formationer. "Mentala stops", vad menar du med det? Ska man sätta en stopp vid en nivå och om kursen nu kommer ned till nivån så kan man rucka på den?
Mvh Pike!
In the reeds.
pike@piketrader.com
Besök gärna www.PikeTrader.com
Inlägget är redigerat av författaren.