this morning i made this suggestion to the folks over on another board i visit sometimes:
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tsharp: (Wed, Apr 13, 8:42 AM ET)
the ewave stuph is quite challenging these days... if my count is still on track, then yesterday marked wave-a down, today will see a pullback, then a rise back to yest highs, or slightly higher, then a failure... that would be wave-b, then wave-c down would be in progress...
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welp, ms. market wasn't able to get back up to yesterday's highs, but appears to have failed in a wave-c:b truncation (reckon i may have given her too much credit)... in light of this possibility, i suspect that tomorrow we'll see the ~1163 lows taken out in wave-c, though it doesn't necessarily need to end at the lows of the day...
as always... twt.
--tsharp
my ST swing model also appears to be confirming today's decline:
i'm assuming that today's decline is not still a part of wave-b, though that possibility should prolly still be kept in the back of one's mind, because if wave-b is still in progress, we could rally tomorrow to higher-highs than today, even with a lower-low, if it's an irregular flat... just something to consider.
might want to take a looksy at the daily spx... monday started this decline with a wave-v:c failure (just barely)... from there to yesterday's lows was a three-waves-down pattern... this morning's failure of wave-c:b was also a three-waves-up pattern... so i assume that this last fractal leg will finish out as an ending diagonal triangle (3-3-3-3-3)... jmho... twt.
Edited by tsharp, 13 April 2005 - 04:49 PM.