5 replies to this topic

[eminimee]

But what if the move off the summer lows was all corrective B wave, it's a count that would look and feel like a crash.....when it's just the C wave of expanded flat. Just musing.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=9&dy=0&i=p49165690738&a=97647863&r=89.png

[greenie]

You have such a cool tool - any situation can be fitted - to da moon to Columbia disaster. If you look at individual components of NASDAQ, for many the move off summer low do look like B corrective up (except for the length of B ). Check OPWV for example. Or HGX or SOX sectors. Same is true for many individual stocks in india, although the BSE index went higher. Or check gold stocks. SPX is different, because the banking sector flew parabolic.

Edited by greenie, 01 March 2007 - 08:57 AM.

[eminimee]

It's a tool.....and if used correctly with my superdooper private indicators ....there is nothing wrong with having more than one count. All framework to me....and if I do say so myself....I'm playing this market rather well. I may seem to be all over the map with counts...but not inside my head, I guess that's why I consider more of an art form that needs various colours of paint.

...put the chart I just posted with this......not the same count....but may get the same results.

[OEXCHAOS]

Greenie, If you're going to avoid financial disaster when trading with leverage, you HAVE to have a scenario for when you're wrong. It's not the being wrong that kills you, it's the not doing anything about it. Mark

[LeroyB3]

Teaparty, You are right...don't agree...anything is possible, but I like to take the most probable and easy count. The count you have above is definitely a low probability count IMHO. Just theory here, but don't you think one of the longest stretches of gains without a minor/major correction would be impulsive? I had us coming out of an ending diagonal...just like your chart above. Most of the time those do some good damage once completed. This was definitely some good damage. My count won't allow the SP500 to go below around the 1326 level. Best, LB

[eminimee]

Leroy....I agree...that's my top count.....spx 1327 max...apart from a quick stop run below it......or spx bottoms with oex 616...I think the latter comes first. OEX closing below 616 is a warning lower lows...below 604....look out.