Duh... have you looked at a Nat-Gas chart lately? What do you think PTEN does? You clearly have no idea what you are doing. It's obvious that you are "new" at this game. Everyone on ET knows that you are just a college kid that spends his summer vacations posting on ET and helping Baron generate web "activity". You are now on IGNORE.
The Market goes UP big time this time :eek: . This is the characteristic of the third subwave of the third wave, may be Wave 3)3 .
The markets are going UP to new high one by one . Market News Stocks cheer housing report Aug 21: 10:29a Wall Street advances after existing home sales jump. Dow, Nasdaq and S&P 500 all touch new 2009 highs. Bernanke sees growth in near term. (more) http://money.cnn.com/data/markets/index.html
All the UP moves look impulsive . SPX 1024 :eek: . EUR/USD near 1.44 again . Crude Oil almost $75 . Oil surges to 10-month high Intra-day oil prices touch highest level since Oct. 20, fueled by investor perception that a recovery in underway. By Aaron Smith, CNNMoney.com staff writer Last Updated: August 21, 2009: 11:58 AM ET The price of oil hasn't traded that high since Oct. 20, 2008, when it reached an intra-day peak of $76.12. http://money.cnn.com/2009/08/21/markets/oil_price/index.htm
But don't worry . . . Prechter says that P2 can end anywhere between "9360 - 11,300" and he'll still be right. Too bad that doesn't help the TRADERS that he told to go 50% short with his August 5th newsletter.
.....looking at your chart.... .... if we just had 5 waves down on the weekly...... .... why would you assume 5 waves are to come on the up move.... rather than assuming that 3 waves are to come ? .... i am expecting an ABC .... not a 5 wave move.... until proven otherwise
elovemer, I think the Orthodox Top occured in 2000. 2007 high should be the B wave. And the 5-wave DOWN was a C wave, which might have ended. DJI 2003-2007 looked like a three. This 5-month UP move may be the beginning of Supercycle Wave V]V). mu.