2 replies to this topic

[kwest]

The market sure doesn't feel like going up. But here's an ewave potential showing otherwise.

The close needs to hold as support, otherwise things could get dicey. My alternate chart shows a large down move.

kw

http://stockcharts.com/c-sc/sc?s=$SPX&p=60&b=4&g=0&i=p82510416986&a=151392324&r=4227.png

[eminimee]

You can't have an ending diagonal in a third wave position..fwiw

...but you could count the ED like this...with 5 of the ED done or needs another low
....The expanded flat B wave is a guess at the point however
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=3&dy=13&i=p37843427902&a=104586413&r=7894.png

Edited by Teaparty, 17 September 2008 - 08:19 PM.

[kwest]

You can't have an ending diagonal in a third wave position..fwiw

I also don't like the overlap of wave 1 and 4.

Of course, that's assuming there's no market manipulation, right?

Thanks for your input, Tea! I'll have to explore some more.

kw