Hmmmm... I was right my count did lead to some interesting discussion. If the market does not take out last Monday's low and rallies above this past Wednesday's high I will cover my S&P puts and expect the triangle scenario to play out. However, if last Monday's low is taken out, I want to see how the market reacts to the low in August. Great input from everyone! Thanks
Sorry, but your Wave 3 is way too short and impotent. Besides a wave 3 will not end before the end of the Economic cycle.... I will stay with my count for now.
Could you expand on this ? I do like proportion and everything is with-in classic 161.8% to 261.8% ranges. The wave 3 could very well be the completion of an A wave which would make the whole structure a little more proportionally balanced. I still carn't get a clean 5 wave top in Feb 08 as you point out, due to overlaps between sub wave iv and wave i of your 3rd wave that finished in Feb 07. Where am I going wrong ?
Oh the old Armstrong pi cycle chart. Shame the guys been in jail for the last 7 years :eek: for defrauding Japanese investors and refusing to turn over $15m in gold bars and coins he is supposed to have hidden away from his gold mail order scam.
A closer look at the possible (Y) wave of the larger pattern. (see last chart) (Y) is made up of 3 waves an (a), (b) and (c) in this case the (c) is an ending diagonal...
That last chart may be little busy on highlighting a possable ED C wave. Hopefully this one's a little clearer...
Getting in the Zone of the wave (iii) of the ED target Its feels like its just finishing of a sub wave 5..