Short term e-wave

The dow is moving down in impulse waves and moving up in corrective waves, until this changes this market is working lower. We are correcting the rally from the last Novembers bottom. If 11,450 breaks then we will be correcting the rally from last summer. Just my opinion..... Good luck trading.

The dow is moving down in impulse waves and moving up in corrective waves, until this changes this market is working lower. We are correcting the rally from the last Novembers bottom. If 11,450 breaks then we will be correcting the rally from last summer. Just my opinion.....
Good luck trading.

do u think this is just a correction which is what it sounds like or a major bear move down ?

The dow is moving down in impulse waves and moving up in corrective waves, until this changes this market is working lower. We are correcting the rally from the last Novembers bottom. If 11,450 breaks then we will be correcting the rally from last summer. Just my opinion.....
Good luck trading.

do u think this is just a correction which is what it sounds like or a major bear move down ?

Gannman,

I truly believe this is where most Elliott theorists make a mistake. I started doing Elliott back in the 80's, kept a chart by hand for years. I use relative strength, money flow, stochastics etc to confirm my wave counts. I stick with the basic retracements of 38, 50 and 62% and try to keep my counts simple. Every time I try to make a bold prediction of a Big "3rd" up or down I get hammered.
I guess to answer your question right now I am bearish and downside potential could be big, like I mentioned 11,450 is a key for me. At some point we will see a nice 5 waves down to complete 1 or A down. I'm short right now but I'm looking for a place to exit. If the next big rally looks corrective to me I'll reshort.
Good luck trading....by the way, did you ever follow Phyllis Kahn with Gann Angles?

The dow is moving down in impulse waves and moving up in corrective waves, until this changes this market is working lower. We are correcting the rally from the last Novembers bottom. If 11,450 breaks then we will be correcting the rally from last summer. Just my opinion.....
Good luck trading.

do u think this is just a correction which is what it sounds like or a major bear move down ?

Gannman,

I truly believe this is where most Elliott theorists make a mistake. I started doing Elliott back in the 80's, kept a chart by hand for years. I use relative strength, money flow, stochastics etc to confirm my wave counts. I stick with the basic retracements of 38, 50 and 62% and try to keep my counts simple. Every time I try to make a bold prediction of a Big "3rd" up or down I get hammered.
I guess to answer your question right now I am bearish and downside potential could be big, like I mentioned 11,450 is a key for me. At some point we will see a nice 5 waves down to complete 1 or A down. I'm short right now but I'm looking for a place to exit. If the next big rally looks corrective to me I'll reshort.
Good luck trading....by the way, did you ever follow Phyllis Kahn with Gann Angles?

i believe years ago i talked to her and bought a gann whee thru her
im not sure though