7 replies to this topic

[fauxpas13]

[S.I.M.O.N.]

your count is very intriguing. Nice work. One question i would like to ask is if there are 4-5 nested 1,2's then the main 3rd wave would have to be quite explosive, so far the rally has been so-so. I would think that a 3rd wave for such degree would break some daily range records. Do you see this in the future, or maybe we are in another nested 1-2??? Thnks

[fauxpas13]

Thanks pnf...since I've been following a count on the daily chart that has current leg up as 5th of 1 from July '06 lows, (previous posts) the above, with the series of 1-2's on daily, is my "more bullish" alternate I will flip to should price start gathering steam. I really do like the pattern on this count and the naz comp, which I believe generally matches ndx count-wise, did put in higher swing high than post 9/11 rally for end of weekly 1 (due to better performance by the smaller and midcaps at time). Also, at present, my s/t senti indicators aren't really exhibiting typical 5th wave (ending) sentiment. That of course can change between now and wherever this leg decides to top.

Basically I'm thinking that if we're in a 5th, then look for (iii) of 5 to end around 1827-28 at 1.68*(i) and for leg to probably top out 1840-50 area. If, however, we're in a 3, the (iii) could very well hit between 1840 and 2.68*(i)...1885-1890 area.

As to your daily range expansion question...that would be one expectation but I don't think it's necessary. A simple stream of white candles where "bad" days are up a little and good days are up moderately, can cover an awful lot of ground over relatively short period of time. Even this rally which has, as you noted, been, or at least felt, so-so...like it's still in creep mode...has managed to traverse over 100 pts.

[da_cheif]

2075 is the first fib target.....nothing will stop it......

[fauxpas13]

See ya at home Cheifster...ggg

[fauxpas13]

[fauxpas13]

[pisces]

THANKS for sharing your work Pisces.