tag:blogger.com,1999:blog-524424037855183124.post3650134766161221573..comments2023-08-27T02:28:24.135-07:00Comments on Elliott Wave Index Trader: The ST EW Count Gets MuddyRichhttp://www.blogger.com/profile/00672860805931384423noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-524424037855183124.post-62824667469925338992009-07-09T06:00:17.583-07:002009-07-09T06:00:17.583-07:00Sprat, certainly that is the hard part about where...Sprat, certainly that is the hard part about where we are: the indicators are showing a bounce while the wave count still shows a lot of weakness ahead. That being said, I am watching the 34 hourly SMA and the 890 area for major resistance. If price gets above those, then the selloff has become too orderly for a wave 3. The next place to look would be the upper channel line (I did not include on my chart but you can draw a nice parallel channel on the hourly chart) for resistance around 918.Richhttps://www.blogger.com/profile/00672860805931384423noreply@blogger.comtag:blogger.com,1999:blog-524424037855183124.post-13858719360741591152009-07-09T00:21:57.120-07:002009-07-09T00:21:57.120-07:00Rich,
Some indicators are calling for a bounce. I...Rich,<br /><br />Some indicators are calling for a bounce. If we do , where are we most likely to do so? The 34 SMA? and how would the wave be labeled?<br /><br />In other words, how are you expecting Wave C to unfold? I suspect not a straight drop to its final destination of 815-840Rickhttps://www.blogger.com/profile/07945545767728208707noreply@blogger.com