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Monday, March 30, 2009

SPX 1 Minute

EDIT: 8:45 PM: This count I have is interesting because Black wave i only traveled 17.41 points. Since Black iii was VERY extended, we can expect Black V to only travel maybe .618 x Black i. 17.41 x .618 = 10.75 The *price* top of my black iv is 790.45

790.45 - 10.75 = 779.7

Today's low was 779.81

EDIT: 8:30 PM Also I think that since black i was only a small drop, and black iii was a very extended drop, labeling today's low as black iii may be asking too much. That would be asking black v to drop even more to close a gap at 768. So that is also why the B wave may be starting.

I hadn't had time to look at the intraday until now and the little finishing wedge makes me think a B wave is starting and the (a) wave finished at the low today. How high would a B wave retrace before we can consider its still to be a B wave and not something else? Guideline is 38% for starters but of course it can go 50% or more. It also should *look* right. Resistance should kill it somewhere. If not somewhere in the 790's then 803-804.
There is one other interpretation of the 1 minute SPX and that has black iii ending at the low today (I just shifted the 3's and 4's and 5's over one which might make sense) which means (a) hasn't even bottomed yet. But the little wedge at the bottom today makes me think (a) might be over. I really cannot be sure. I am trying to dissect the 1 minutes and this can be hazardous although this structure down has very nice form. We shall see by morning.


  1. DE - thanks for the posts and your insight. I think you misunderstood my question - How high up can the complete P2 go and still be within EWT guidelines? Thanks.

  2. great work, thanks for sharing!

  3. What a nice work you make...

  4. not bad elliott wave work
    i have to argue 1 point though in ragrds to yoru wave count on the spx . first ill send you to
    your nasdaq chart and your notes on the expanding triangle , then look at the wave count
    on the hourly spx from march 6th to march 23rd
    looks like a clean 5 up . this would then make the arguement that we have been in the corrective B wave since monday march 23rd , a b c d and e are all there into today as is a very simple expanded flat A B C . the present B wave your noting is valid no doubt but dont be alarmed if it dwarfs into something more .
    good work

  5. SPX - Things for the short term

    Had left the alert for the area of 825/830.
    Resistances: 793 - 801 - 815
    The value to monitor short-term increased from 832 to 816. Below 816, we should expect 755, and then 708. Close above 816 should see new high 852 + -.

    I have seen this movie. This will not end any better.
    So many bulls

  6. Hi Dan,

    In your second paragraph, do you mean "close a gap at 768"?

  7. SRS yes I did it agaib...grrr thanks!

  8. I'm looking for 1000 maybe 1044 Shanky beleive it or not