Damn waggie, the one poster on your thread and you chase him away. This thread will collapse if rcanfiel isn't welcome, haven't you learned by now ?
Zapper, I actually have to agree with you on that last point. That guy is one piece of work! Simply unbelieveable.
yes, after all, why should people use things that actually outperform? The nerve!!! How much better it is to mix in methods that produce random results and hope luck is on our sides
John, nothing has really changed. Wave iii of Wave 5 appears to have peaked in the DJIA on the 16th, and a "corrective" (b) wave which zig-zagged upward into yesterday's DJI trade above 14,000 has been followed by a five-way (c) down of Wave iv into today's intra-day low at 13,823.93 which concludes (A) of Wave 4 down. Since today's intra-day low, the DJI ( and the SPX ) have traced out yet another a-b-c "corrective" sequence back up into a larger (B) of Wave 4. This count will be deemed in effect unless the 13,922 wave iv peak is taken out in impulsive fashion. Given today's close back above the key 13,875 level, one can give more weight to the case that Wave 4 ended this morning and that we have done i, an irregular ii, since this mornings low at 13,823.93 and are now in a iii of the final Wave 5 up. I need to see more action tomorrow in order to confirm whether or not the last 30 minutes of today's session was indeed impuslive wave action to the upside. As mentioned above, taking out 13,922 would put me into the camp that Wave 4 ended today, and that we will not see any further "choppy" corrective action in the Dow. In any event, there will still be a Wave 5 rally to the upside. Today's downside action has done nothing to negate that view. More later.
We appear to be in a 5-3-5 pattern. 5 days up, followed by 3 "sloppy" corrective type days, to be followed by 5 days up again. Thus, Monday's close and all trading next Tuesday will be very significant if we are going to be pushing up one more time, challenging the 1555 SPX level and 1563.50 in the ES. In the meantime, we need a WEEKLY CLOSE tomorrow above 1540.50 ( the previous breakout level ). Very key.
bkah-blah-1559.09 blah eliot wave blah blah wave 5-3-5 blah well it didn't make it there waggie. chalk it up to you and eliot, you were always destined to be wrong, and to fail. nothing will ever change.
As stated in another thread in the TA Forum, the SPX found support at the 50% retracement of the recent rally from the 1506.10 low to the high at 1555.90 at . . . 1531 Still need a close back above 1540 SPX today for the Weekly Charts.
Landis, I believe the SPX is eventually headed for support at its rising 80 week moving average (SPX: 1380). Does your Elliott Wave method agree or disagree with this area of support? Jeff