Here's the same movement as above, zoomed in a bit. You can see the two low counts with the connecting movement (between the two red tick marks). The difference between this and the weekly chart (above) demonstrates how 'point of observation' can change things. Still, the 'things' remain the same... fx
This chart, showing the 3rd wave of the S&P bull market (2003) helps to illustrate the role of significance in the count. The small dots count the lower wave scale and the large dots the higher. Some events belong to both wave scales. The chart shows how counts can overlap. There are 3 sequences here. One, the 18 point, covers the entire trend. The other two are both 14 point counts connected by a scale shift (red box). At this scale the shift would probably be thought of as a 3 wave movement. If you zoom in though, it's a 7. And if you zoom in even further, it itself will also be a low count (14, 18 or 22). The first 14 pt. sequence extends to the shift. The shift, in effect, prepares the way for a new upward count by counting a full movement down at a much lower scale (hence the name, "scale shift" - if a trader can switch between differnt time and wave scales by changing his chart settings, why can't the market repeat its patterns at any scale it needs to, and in fact it does). A shift helps price to perform a full count in the desired direction (negative to the last trend) without losing too much ground with regard to price. After the shift is complete a new upward sequence can begin. Here another 14 plays out and extends slightly beyond the higher scale count, pinpointing the terminal even further. I don't know about you, but I think it's pretty amazing that a movement that began at 790 and ran to 1160, 370 points, could've been reduced to a terminal area of 3 or 4 points! Anyway, what signifiance means here is that the largest event that is exclusive to the low wave scale will be smaller or slighter (when measured vertically) than the slightest event that is part of the higher wave scale. In this way the entire structure 'makes sense.' It is sound from a counting perspective. It succeeds in creating significance and spinning its threads... Hope that was interesting for you. You are still awake aren't you?... Later. fx
My bad. The count in the graphic above was slightly off. An 18 point count fits that last movement much better. Check the one below out... fx
This isn't exactly in advance, but I thought I'd go ahead and post all my daily analysis for the Dow, S&P, and Nasdaq - there's still time to profit well from the previous count as price is near its highs in all the indices. fx ...here's the Dow chart...
Brought up a 10 min. chart today and started counting. I thought the movement illustrated how to employ "significance" rather well, so I thought I'd post it (see attached). I've also done a little projection on it based on what might be typcial behavior... The "significance threshold" here is the event between red tick marks, blue 3 and 4. This means that anything below the vertical measurement of this event is not included in the count. As seen this involved 3 events which subtracted six points and made the overall count 22 points. The failure to recognize a significance threshold has traditionally been a thorn in the side of price counting. Without this tool the proper sequences cannot be discerned, because an analyst will always try to count the uncountable, distorting the situation. The threshold is arrived at simply by measuring and comparing events and 'playing with' the sequences, looking for a fit. The projection here is based on the idea of a 3-wave scale shift seperating this sequence from the an expected one. Best Rgds, fx
Geez, that's what I get for "projecting." :eek: Looks like were in for new highs (for the movement) before the larger trend takes over... Anyway, the above graphic (posted real-time) does indicate how well price reacts to these sequences, often within a very limited time and price window. rgds, fx
Okay, maybe everybody left this thread, but I remember someone asking for some REAL TIME counting with specific trade recommendations... Well, I may not be willing to give advice, but I will share my charts... Here's an 18 and 22 point count in the 5 min. Dow and Nasdaq charts. Any high above 10967 and 2311.57 will breach the respective terminal points... ...I'll leave it to you to figure out from there. Tomorrow's a money maker! Rgds, fx PS. Here's the Dow chart...