Dow Jones.... Elliott Waves

[Boggo]

Ill see if I can add to anything with AGET tonight.

That would be good tech/a, pattern is almost too good to play out without something breaking, the W.4 will be the test (as usual).

I am down to 5 stocks with three in green and all approaching an exit. July started off too good to last.

 

[tech/a]

Very similar Boggo.
Have 5 and in draw down for the year (Financial) as of today!

DJIA WEEKLY CHART.
Current analysis.
This could well play out far worse than shown here.
But for now.

 

[Boggo]

Very similar Boggo.
Have 5 and in draw down for the year (Financial) as of today!

Could be worse, imagine for a minute that you had been buying more of some of the stocks that were a so called "bargain at these prices" a month ago.

Scary looking chart though, anything is possible including a sucker run up before we see the end of this.

Gonna be some great opportunities when turn around eventuates, sit back and watch and wait eh.

 

[tech/a]

Update

Click to expand

 

[professor_frink]

Update

Click to expand

View attachment 43884

The chart says "Don't be surprised". Are you saying that you are looking for a move down to 8900 on the Dow, and if we get below that then 6440 is the next target?

 

[tech/a]

Over time I expect price to fall to 8900 ( this year )
6000 is more likey than a higher high on the DJI

 

[barney]

Over time I expect price to fall to 8900 ( this year )
6000 is more likey than a higher high on the DJI

Tech, If you had/have such a bearish view on the market in general, I assume even you were not expecting such a rapid drop? ......... otherwise you would not have been holding "longs" last week (join the club )

Are you shorting the Dow Index? ..... If not yet, at what level?
Cheers.

 

[tech/a]

All trades were exited over the last week
3 trades were still open on Friday
Gaps down had me cop a hit but I live to continue

I'm trading FTSE futures short term
No open position as I stopped trading at 9 on Friday night
I made some Posts during trading on one of the other threads.

I'll be shorting any SETUPS which indicate weakness to the upside
And long if I see exhaustion and lack of supply on the short side.

Not interested in trading the DJIA
FTSE is in my view easier to trade technically

 

[barney]

All trades were exited over the last week
3 trades were still open on Friday
Gaps down had me cop a hit but I live to continue

I'm trading FTSE futures short term
No open position as I stopped trading at 9 on Friday night
I made some Posts during trading on one of the other threads.

I'll be shorting any SETUPS which indicate weakness to the upside
And long if I see exhaustion and lack of supply on the short side.

Not interested in trading the DJIA
FTSE is in my view easier to trade technically

Cheers .............. still hold one long myself, but subject to discretion atm.

I also dabble in the Index's and assume you prefer the FTSE as it is a little less aggressive "range wise" when you happen to get on the wrong side of the market ......
I beat the DAX up on thursday, ........... but it spat me out on friday !!! ... lol .....

I have a glimpse of what TH was on about when he frequented ASF ...... god bless him

 

[Boggo]

This I find interesting, a comparison of 1937,38 and the current state of the Dow

(click to expand)

 

[notting]

I guess if there is a third world war it could be something to depend on.
A banking collapse would be the other possibility which would require suicidal policy breakdown in Euroland.
Unlikely.
They tend to step back having looked over the cliff.

 

[Billyb]

I guess if there is a third world war it could be something to depend on.
A banking collapse would be the other possibility which would require suicidal policy breakdown in Euroland.
Unlikely.
They tend to step back having looked over the cliff.

WWII was a little after that, I hope Elliot Wave is not that predictive though!

 

[Boggo]

I hope Elliot Wave is not that predictive though!

Scary stuff eh !
So far everything is pretty much the same, all that is left is the last W.5 down leg.
Only advantage may be that it may tell us where the bottom is

 

[Joules MM1]

trade2win.com/boards/stocks/162510-short-short-short.html

some interesting reading in there

in the bulk of opines using Elliotts work, most people employ the regimes for a negative context.....funny that....

 

[Boggo]

So far everything is pretty much the same, all that is left is the last W.5 down leg.

That comment was in post above on 19th Sept 2011 and referred to the charts in post #30 above.

The Wave 5 down obviously wasn't as dramatic as that of '37/'38, it finshed at the typical target area.

Current pattern may have the usual hiccups along the way but a forward projection is tending to indicate a hurdle around the 13900 area but that is just my

(click to expand)