19 replies to this topic

[ogm]

I believe these are a-b-c counter trend waves, not impulsive and in my view after completion (Friday) ultimately very bearish. Should be completing a wave B here and wave "y" of that wave.

As I said, I know nothing about e-waves.... but...

This looks pretty darn bullish to me.

Momentum improving. 33/55 EMA's never crossed down, and now the price is strongly above them.

[phil_hubb]

referring to WAVE 3 of 5

http://investorshub....age_id=22488501
Someone mentioned that he can't believe that the 8/16-8/24 was "Wave 1" because it is too strong.

So far, if "Wave 1" is strong, we haven't seen anything yet on "Wave 3" since it is the strongest one.

So, traders with disbelief will have to chase hard when this ball goes out far.... over the ball park fences.

Think that these moves are because extremely negative sentiment with high short level; however, as noted before the subprime crisis drama has foreseen since the housing market topped. So the news saturating drum beat is often contrarian indicator.

This ball might go.... over the fence, farther than we think. So far, it is heading that way....

We know 100% sure with hindsight, though... will see.

"as noted before the subprime crisis drama has foreseen since the housing market topped. So the news saturating drum beat is often contrarian indicator."

>>What was clearly not foreseen about the subprime crisis drama was that it would spread to alt A then A mortgage paper, then hop over to corporate paper and hammer all the way to AAA commercial paper, and basically cause the entire credit derivatives market to seize up and cause a massive repricing of all forms of derivatives.

As I recall, Hank and Ben's last words on the topic seem to have included the term ''contained"
I guess they meant "contained" to global financial markets as opposed to spreading into the physical world and affecting phases of the moon, the movement of icebergs etc...

In that broader sense it was "contained." LOL!!

[blustar]

I believe these are a-b-c counter trend waves, not impulsive and in my view after completion (Friday) ultimately very bearish. Should be completing a wave B here and wave "y" of that wave.

As I said, I know nothing about e-waves.... but...

This looks pretty darn bullish to me.

Momentum improving. 33/55 EMA's never crossed down, and now the price is strongly above them.






Oh, I'm a VST bull, but the pattern is "ultimately" bearish IMO. I've seen these many times before. Have been studying E-Waves since the 80's and it doesn't get any clearer to me. There are times I admit when e-waves are not very useful, but this is not one of those times IMHO.

[scott in Wisconsin]

Oh well, no wonder e-wave is the most disrespected among all TA techniques.

You say E-wave, I say Rorschach, let's call the whole thing off.

Scott

[Jnavin]

The problem is not e-wave. The problem is those who attempt it without fully understanding it.
The best e-wavers are those with significant experience using the method -- years and years of experience.
I like Tony at Elliot Wave Lives.
Fib knows the system well at Technicalwatch.com
And Charles Nenner is well-versed -- if you can afford his service.

Except for Teaparty and just a couple of others, I would be cautious about e-wave posters here.

Edited by Jnavin, 30 August 2007 - 11:14 AM.

[ogm]

E-wave, Fractals.. its all the same thing.. ... Pattern recognition. Attempt to predict the Future, by looking at the past setups. Sometimes it works sometimes it doesn't. I personaly prefer more dynamic TA. Momentum and trends. TA that evolves with the market.

Edited by ogm, 30 August 2007 - 11:40 AM.

[blustar]

The problem is not e-wave. The problem is those who attempt it without fully understanding it.
The best e-wavers are those with significant experience using the method -- years and years of experience.
I like Tony at Elliot Wave Lives.
Fib knows the system well at Technicalwatch.com
And Charles Nenner is well-versed -- if you can afford his service.

Except for Teaparty and just a couple of others, I would be cautious about e-wave posters here.

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This is FIB's quote on B waves:

/"B" waves are sucker plays where the market is not in sync - and usually is news related in one way or the other. In the case of equities, one will see inconsistencies between one index and the other either in price or the internals that accompany such a move. ''B'' waves can make new price extremes than the orthodox price termination point of the previous 5 wave structure or only partially retrace the ''A'' wave move based on how much emotion accompanies such a pattern. If something doesn't look or feel right about a price pattern, it's more than likely a ''B'' wave./
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I believe this current wave is a B wave and the cubes anomaly can be explained as to why there is such a difference in the indices, this being a sucker's play etc.
















































Today's

[eminimee]

E-wave, Fractals.. its all the same thing.. ... Pattern recognition. Attempt to predict the Future, by looking at the past setups. Sometimes it works sometimes it doesn't.

I personaly prefer more dynamic TA. Momentum and trends. TA that evolves with the market.

It's not the same thing at all...don't knock what you don't understand.

[ogm]

E-wave, Fractals.. its all the same thing.. ... Pattern recognition. Attempt to predict the Future, by looking at the past setups. Sometimes it works sometimes it doesn't.

I personaly prefer more dynamic TA. Momentum and trends. TA that evolves with the market.

It's not the same thing at all...don't knock what you don't understand.

Yes, I know, Ewaves are very popular

But how are e-waves not pattern recognition ? Basically you're looking for a certain 5 wave or whatever pattern and try to fit the current price dynamics into it by assigning certain values to the legs of that pattern development, and try to forecast how the pattern develops based on the past examples.

Yes, Ewaves are based on the premise that there is certain pattern to price movements. So are cycles. Basically its the basis of most forms of the TA.

And Fractals are just more simplistic pattern recognition methology.

[PorkLoin]

Trend Signals: So far, if "Wave 1" is strong, we haven't seen anything yet on "Wave 3" since it is the strongest one.

It wouldn't have to be. In terms of price, wave 3s aren't going to be the shortest, and while they are often the longest, you could have 1 being longer than 3, which would be longer than 5, for example.

Doug