Update to my EW count

Since wave 2 was non-complex, I expect wave 4 to be sideways complex. Many will think we tested bottom and waiting for big [bleeep] rally to commence. It will not happen IMO. We will go sideways for 1-2 days before wave 5 down of 5 commences. You all keep picking bottoms, I'll be picking my nose waiting for the day TRUE FEAR emerges.

Dcenger..where is your Wave 1 adn 2 of 5?

We're still trying to form the bottom of big A of the bull market.

"busting the triangle gave us C of a flat" .... Don Wolanchuk looking for a bottom here. One of the best bottom pickers out there.

"busting the triangle gave us C of a flat" .... Don Wolanchuk looking for a bottom here. One of the best bottom pickers out there.

I don't subscribe to his service, I cannot tell you his performance. I can tell you he does not live in the hamptons and sells newsletters.

You make your own observations about his capability.

"busting the triangle gave us C of a flat" .... Don Wolanchuk looking for a bottom here. One of the best bottom pickers out there.

I don't subscribe to his service, I cannot tell you his performance. I can tell you he does not live in the hamptons and sells newsletters.

You make your own observations about his capability.

Wolanchuk has been a multiple timer of the year winner.
That begs the question.... Do you live in the Hamtons?

Russ, I don't get paid and still consider myself a rookie but here is my thought I agree the triangle idea is caput (I guess it could be a running triangle but I seriously doubt that) But we also could be forming an ending diagnoal which would require one more low. If time symmetry is going to take place the low would be made next Thursday. The reason I like that scenario better is today's put/call ratios. Today's equity put/call is .92 and ISE is 82. Typically lows occur with those over 1.00 and less than 65. Regardless it means the lows should not be far off if they are not in already? Thoughts? SL

Russ,

I don't get paid and still consider myself a rookie but here is my thought

I agree the triangle idea is caput (I guess it could be a running triangle but I seriously doubt that)

But we also could be forming an ending diagnoal which would require one more low. If time symmetry is going to take place the low would be made next Thursday. The reason I like that scenario better is today's put/call ratios. Today's equity put/call is .92 and ISE is 82. Typically lows occur with those over 1.00 and less than 65.

Regardless it means the lows should not be far off if they are not in already? Thoughts?

SL

What if we just had a successful test of the big 1000 dow point move on 10th? Money flow has been relatively positive compared with the two previous lows.

Here is what I was thinking. The same pattern shows up for $SPX. Keep it with a grain of salt. Those paying attention know I have posted two guesses at the path the last two days and both got blown out of the wather. The good news is I always give levels where you know the idea is wrong and what to look for conformation. This idea is wrong if we get above a horizontal line starting at point b that is parrallel to a-c (roughly say 33.30 tommorrow) and you would know it is correct if we top somewhere between say 32 and 33 and then come back pierce the a-c line on a spike in volume and then immediately recover. Another reason I like this idea (besides the put/call info in post above) is because it allows the $SPX to come break its 840 on lower volume which i think if Semi were still here would say still needs to be tested). If this viloates any elliot rules or anyone can post another count that invalidates this let me known. I realize its not as steep as a normal ending diagonal but I think it fits. Thoughts?

http://stockcharts.c...0406&r=6226.png

...Double Post....

Edited by StillLearnin, 23 October 2008 - 04:10 PM.