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Thursday, July 14, 2011

More selling today

We're getting ready for iii  of (c) down.  We should see more volume on the selling today, so I expect the WaveMomentum indicator to turn down sharply, as it does during wave 3's.

Below is the Russell 2000 futures /TF and E-mini S&P 500 side-by-side.  It's a good idea to keep multiple indices.

Posted by Waverunner (FractalTrader) at 6:38 AM

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Notation


Wave DegreeMotiveCorrective
Grand Supercycle((I)) ((II)) ((III)) ((IV)) ((V))((a)) ((b)) ((c))
Supercycle(I) (II) (III) (IV) (V)(a) (b) (c)
CycleI II III IV Va b c
Primary((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))
Intermediate(1) (2) (3) (4) (5)(A) (B) (C)
Minor1 2 3 4 5A B C
Minute((i)) ((ii)) ((iii)) ((iv)) ((v))((a)) ((b)) ((c))
Minuette(i) (ii) (iii) (iv) (v)(a) (b) (c)
Subminuettei ii iii iv va b c
Micro((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))