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Elliott wave outlook

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  • #7,521
  • Feb 8, 2013 6:34am Feb 8, 2013 6:34am
Quoting venzen
S&P500

Luis has been showing a critical chart of how the S&P is heading for 1525 by Fib projection of its HHs.

EWI have been expecting a turn down for at least a year... now they also are calling for a top at 1525.

I put on my Fibonacci hat and here is my version of how it can happen:

Attachment
SPX500 should lead a deep correction at yen pairs before the crash
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,522
  • Feb 8, 2013 6:39am Feb 8, 2013 6:39am
How Deep Do You Expect That To Be Luis Like For EUR/JPY & GBP/GPY Regards !
Quoting Luis Carlos
SPX500 should lead a deep correction at yen pairs before the crash
  • #7,523
  • Feb 8, 2013 6:42am Feb 8, 2013 6:42am
125.6 - 126 - 126.6
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,524
  • Feb 8, 2013 7:03am Feb 8, 2013 7:03am
Quoting Luis Carlos
SPX500 should lead a deep correction at yen pairs before the crash
well EJ hit 124.50 but is not going down strongly... maybe the correction will continue higher or maybe compound.

S&P and Dow are surging upwards at the moment
cryptocurrency everytime
  • #7,525
  • Feb 8, 2013 7:08am Feb 8, 2013 7:08am
12,513
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  • #7,526
  • Feb 8, 2013 7:22am Feb 8, 2013 7:22am
Quoting venzen
EJ

Seems a zigzag is unfolding up from 123.40. Assuming wave A (124.12 - 123.40 = 62 pips) = wave C we have a rough target of 124.50 (23.6% of entire 5w) for the end of the correction. Lets see...

Edit: I'm wrong - wave C cannot be a zigzag (it must be 5) so either the current PA is an impulse or we are in line for a compound correction
Given the price action is unfolding in three waves, I think an ending diagonal could be on stage.
IL SUCCESSO E' UNA SCIENZA ESATTA.
  • #7,527
  • Feb 8, 2013 7:24am Feb 8, 2013 7:24am
Quoting The Cableguy
12,513
Fair enough. I see The Book warns against labeling a flat as "running" (EWP p49)

The downforce is not strong with this one (EJ)
cryptocurrency everytime
  • #7,528
  • Feb 8, 2013 7:26am Feb 8, 2013 7:26am
Quoting Pepperap
Given the price action is unfolding in three waves, I think an ending diagonal could be on stage.
Happy you pointed that out - ending diagonal would explain a lot about today's PA
cryptocurrency everytime
  • #7,529
  • Feb 8, 2013 7:32am Feb 8, 2013 7:32am
Quoting venzen
Happy you pointed that out - ending diagonal would explain a lot about today's PA
Here is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 14 KB
IL SUCCESSO E' UNA SCIENZA ESATTA.
  • #7,530
  • Feb 8, 2013 7:36am Feb 8, 2013 7:36am
I'm going for a standard 5w impulse! (with wave 1's 5th reaching 100% ext), perhaps now even 12,565 for top...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,531
  • Feb 8, 2013 7:45am Feb 8, 2013 7:45am
Quoting The Cableguy
Gonna have to revert back to my original plan for Cable, as per lower prediction (irreg B);

http://i1168.photobucket.com/albums/...h31-01-13a.png

PA has become a real bitch to follow though, so only have Fib's of A to go on, the 123.6% lines up with an overall retracement fib, but it has a free reign to go way higher yet, if it wants and might coincide with thinking that the FTSE is about to steam south soon...

http://i1168.photobucket.com/albums/...2h08-02-13.png
Great job on that my friend, I am looking the expanded to 1.5900

By the way I am long from the trendline
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,532
  • Feb 8, 2013 7:47am Feb 8, 2013 7:47am
Now 125.6 is the best on euro yen, ut keep in mind 126.6
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,533
  • Feb 8, 2013 7:50am Feb 8, 2013 7:50am
Cheers Luis,

Just for fun, cos we all like to try it!

At least you will see why i said 12,513 earlier! Its the 38.2% retrace of the 5w move short and the 123.6% ext of wave A. looking at the size of wave 1 (if it is), i think we can push for the 161.8% ext @ 12,565;

http://i1168.photobucket.com/albums/...5m08-02-13.png
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,534
  • Feb 8, 2013 7:55am Feb 8, 2013 7:55am
Lets hope PA is kind to us and even if we can't read the wave count perfectly on the way up, maybe it will give us a nice 5w short/3w long to recognise the turn and get onboard...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,535
  • Feb 8, 2013 7:57am Feb 8, 2013 7:57am
Euro yen
Attached Image (click to enlarge)
Click to Enlarge Name: 13feb08.PNG Size: 90 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,536
  • Feb 8, 2013 7:59am Feb 8, 2013 7:59am
Quoting The Cableguy
Cheers Luis,

Just for fun, cos we all like to try it!

At least you will see why i said 12,513 earlier! Its the 38.2% retrace of the 5w move short and the 123.6% ext of wave A. looking at the size of wave 1 (if it is), i think we can push for the 161.8% ext @ 12,565;

http://i1168.photobucket.com/albums/...5m08-02-13.png
I am not reading all, some busy now... How you see we are in the same zone
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,537
  • Feb 8, 2013 8:03am Feb 8, 2013 8:03am
Quoting Luis Carlos
Euro yen
That is not 1 es A
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,538
  • Feb 8, 2013 8:05am Feb 8, 2013 8:05am
Get ready we are near to the big one at euro yen up
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,539
  • Feb 8, 2013 8:11am Feb 8, 2013 8:11am
I do like that a lot Luis, i have GJ as in 5th of a 5th and thus should have more upside yet...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,540
  • Feb 8, 2013 8:19am Feb 8, 2013 8:19am
Quoting The Cableguy
I do like that a lot Luis, i have GJ as in 5th of a 5th and thus should have more upside yet...
yes, I am ready to close GJ
Stocktwit: LuisCarlos - twitter: @lcparodi
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