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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

0.0%

Jan 23 4:00 PM EST

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To: HairBall who started this subject	1/16/2001 5:11:16 AM
From: Stcgg	Read Replies (2) of 99985

WAVE 3 DOWN IS NOT COMPLETE! I was just comparing the Nikkei crash to the Nasdaq crash, trying to get ratios and timelines for comparison and purposes of forward predictions, when I found that the 3rd wave down can't be complete.. According to EW rules, the 3rd wave cannot be the shortest wave of the 5.. Counting from the March 10th 5132.50 top down to 3042.70 was a drop of 2089.80 (Wave 1 down).. Counting from the September 1st 4259.87 top down to 2251.70 was a drop of 2008.17 (Wave 3 down).. I was expecting a rally into summer, but Wave 3 cannot be shorter than Wave 1, so we are still in the big Wave 3 down, rising in sub-wave 4 with Wave 3-5 straight ahead.. This means that the recent low of 2251.70 must extend at least down to 2170.07 to make these waves equal.. This Wave 3-4 is likely complete to the upside as Friday was a fib turn date.. Look for another ride down in 3-5 to a bottom near 2000-2100 into the next fib date of January 23rd -26th, where this Big Wave 3 should complete.. >><<

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