fwiw, i've spent quite a bit of time over the past several days looking over the monthly, weekly, and daily charts of both the dow and spx...
in light of all i took in, and in an attempt to reconcile their differences, it appears to me that that the most likely fractal candidate is still a bearish bias of a 1-2, 1-2 down, where wave-iii of the first minor wave would now be in progress...
though a bit less bearish possibility could be that we've started off Wave-Y:IV (imho) with a leading diagonal, which would account for the potential wave-i/wave-iv overlap (see dow chart for this alt count)...
wierd and choppy wave structure of late leaves me wanting to see more fractal development before dogmatically stepping too far out onto a limb at this juncture...
tho i am still of the opinion that the next leg down of Intermediate Wave-IV began back in March... but as always, twt.
--tsharp
here's a chart i prepared about a month ago of what my thinking for the next 18-24 months could look like in terms of the spx... that first leg down would be minor wave-(i):Y:IV
my bearish bias is not only due to my observation of the fractal behavior, but is also influenced by some of the indicators i use to determine the larger trend in general...
two charts below suggest that the IT trend is down; first through the bull/bear filter i use, then also through the 21WMAC, which you will see rejected the price level several days ago, as would be expected in a bear market:
now for current fractal charts of the spx:
and finally, the somewhat less bearish alt count on the dow:
spx...
Started by
tsharp
, May 14 2005 09:57 PM
2 replies to this topic
#1
Posted 14 May 2005 - 09:57 PM
#2
Posted 14 May 2005 - 10:50 PM
Thanks Tim.
I'm always amazed by your work and I eventually kick myself when I disagree.
"Nature's Failure to Function in a 'Predictable Way'... 500 years ago?"
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#3
Posted 26 May 2005 - 02:44 PM
[quote name='tsharp' date='May 14 2005, 10:57 PM']
tsharp, where are you?
tsharp, where are you?