7 replies to this topic

[skott]

here is a chart of the ABC count which implies a large C wave Down.. I am not an expert and am not claiming to be. Looking for other reasonable views of the NDX

[url="http://<a%20href="http://img256.imageshack.us/my.php?image=ndxabccountrf0.png"%20target="_blank"><img%20src="http://img256.imageshack.us/img256/6479/ndxabccountrf0.th.png"%20border="0"%20alt="Image%20Uploaded%20by%20ImageShack%20Toolbar"%20title="Image%20Uploaded%20by%20ImageShack%20Toolbar"%20/></a>"]ABC Count[/url]

This is a more bullish view but I think still implies a correction and then on to new Highs. One impulse wave deserves another... up that is.JMO

[url="http://<a%20href="http://img73.imageshack.us/my.php?image=ndximpulsewavecountwe4.png"%20target="_blank"><img%20src="http://img73.imageshack.us/img73/2420/ndximpulsewavecountwe4.th.png"%20border="0"%20alt="Image%20Uploaded%20by%20ImageShack%20Toolbar"%20title="Image%20Uploaded%20by%20ImageShack%20Toolbar"%20/></a>"]Impulse Wave[/url]

Dont know why the click on link didn't show up
trying again. otherwise you will have to paste the url in your browser

[url="http://<a%20href="http://img73.imageshack.us/my.php?image=ndximpulsewavecountwe4.png"%20target="_blank"><img%20src="http://img73.imageshack.us/img73/2420/ndximpulsewavecountwe4.th.png"%20border="0"%20alt="Image%20Uploaded%20by%20ImageShack%20Toolbar"%20title="Image%20Uploaded%20by%20ImageShack%20Toolbar"%20/></a>"]Impulse Wave[/url]

[skott]

I seem to be having the same problems that Mr. Dev had last night. Imageshack had an update. try again.

Impulse Wave

[skott]

and here is the ABC count

ABC for NDX

[dougie]

funny sktt; i posted that same idea on another forum yesterday: most were very skeptical. This B: could also be a 2 could it not?

[skott]

I don't follow on how it could be a wave 2 but I'm not an expert just an ignorant student who doesn't study much. to my knowledge expanding wedges are bearish.

[dougie]

i meant the whole enchilada off the lows as a 2

[skott]

yeah I guess that is possible to. Only time will tell. One thing is for sure wave 3 cannot be larger or even equal to wave 1 down in actual numbers because wave 1 down was approx 4000 pts....... there isn't that much left for wave 3 so it would have to be a percentage decline. If it declines I'm betting it's a C wave but there probably won't be that much difference in the percentage drop either way. we could go on a make new highs if the dollar gets chopped in half over the next few years/decade. sorry for the run on sentences and probably lack of clarity. if either of the above labels is correct this would be the top or near it and we should have a nice decline maybe to 36 on the QQQQ or lower. That seems like a larger decline than is possible. It's all a guess

Edited by skott, 02 May 2007 - 02:28 PM.

[LeroyB3]

Your impulse wave count is closest. LB