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Strategies & Market Trends : Sharck Soup
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To: marc chatman who wrote (14930)4/5/2001 1:46:40 PM
From: velociraptor_  Read Replies (2) of 37746
 
Turn times have more to do with a trend change, so the best thing to do is just see which way the indexes are going as that time comes near. Today's looks pretty likely to be a turn down. Today's turn is an hourly turn. Tomorrow's is a weekly turn. They don't necessarily have to alternate up/down.

As for your wave count....sure...anything is possible so we cannot exclude your theory. EW is best in hindsight. The only thing that would bother me about your count is that if it is true, then the correction would go on for more than 2 days and that time frame seems a bit long to correct the recent decline.

But then EW doesn't necessarily follow strict 1:1 decline/correction ratios, so we'll see.
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