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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: john722 who wrote (67077)	1/18/2001 2:52:09 AM
From: Stcgg	Read Replies (1) of 99985

John, on your wave 4abc question.. Stcgg. Could you enlighten me as to how long a Wave 4 abc counter-trend rally takes to complete. Also would you have a target retracement for the b of the abc? I appreciate your insight..... In the Nasdaq 3rd wave down, sub-waves developed from the Sep 1st high.. the sub-wave 1 ended at the Oct low then rose in an abcde sub-wave 2 early in Nov, from there a minute 5 wave structure brought the 3rd sub-wave down to the Jan 3rd low and this is where the sub-wave 4 began it's abc up to today's 2750 area prior to turning down around 1pm.. 4th waves are generally more complex than 2nd waves (both are counter-trend rallies in this case), and one shouldn't be surprised to see this 4th sub-wave take on another 2-leg structure, becoming an abcde prior to the 5th sub-wave down to complete the larger wave 3 decline.. >><<

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