Today low went below August's high so it could not be wave one. It is fortunate that we counted it as a b-wave of a running correction. Wave 3)4 may end at measured move above 1030 , and then a rebound to end Wave 3) at measured move = 1120 . When June's high is taken out we can be sure that the BULL is dead .
Hi Mu, Interesting two extreme predictions from Prechter and Neely >>Today low went below August's high so it could not be wave one<< Which wave one do you mean? Could you elaborate a little further?
OK, Landis . mu. Blnbr, The blue count is valid until Wave 3)3.4 went below Wave 3)3.1. When it did, the count became invalid because wave four cannot invade the territory of wave one. mu. Wave 3)1 high = 1018. Beware of the red lines . Many of them .
The red lines were good SELL Signals . The Bulls had retreated to the last trenches with four supports namely, the top of Wave 3)1, 50-day SMA, The Hammer Candle Stick (Shooting Star for NASDAQ) The wave c measured move. There may be a little fight back to top of wave 3)2.b at 9630, 1039, 2059 , or a major attack to the last new high at 11100, 1110, 2220 . If overpowered the Bulls may retreat again to wave 3)2.c at 9252, 991, 1958 , which should be renamed as wave 2] .
Hi, My first post here Consider the movement from March as a ZigZag. To make C identical to A and C)5 to C)1, the market should move up in one big squeeze... In Amsterdam the AEX allready has A = C, but the German DAX looks a lot like the S&P. Time will tell...
Dont like the looks of wave 3... "can't be the smallest" so that won't leave much room up. I'm not taking any positions since i trade the AEX which allready made a perfect zigzag...