If the pattern does turn out to be a Diamond, then it would nicely explain why traders generally had a hard time lately. Within the diamond the waves are hard to read and this should be expected, but generally only in hindsight.
Wut shnekk oyle be ye tryan two shell hear? Ze 2000 un 2007 tophts wore kleerly hezagone fermentations. Zis must reesent wand be eh pendagone fermentation, mateee.... argh....
I noo you'd take the bait!!!!!!!!!!!!!!!!!! Here's some warm up practice ... you have 6 equal size matchsticks. How many equilateral triangles can you make? (Note: it was expected that a HERD member would come up with the Hex. and Pent. )
Just a reminder .... the pattern shown above on August 18 is still in play. Yes, wave "b" can make a lower low. Dow down marginally today, Aug 23 @ 10,214, after giving up gains .... current 60-min. updated from above, haven't changed a thing. Uploaded with ImageShack.us
Just a reminder ... The following have already broken below the July lows SOX (PHLX semiconductor Index, bad news for Nasdaq) Nasdaq versus S&P (more bad news for Nasdaq) Small caps versus Large Caps (Top might be in)
For the fundamentalists ... September is the worst month since 1896 http://www.marketwatch.com/story/august-is-a-good-month-for-stocks-2010-08-01