Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: donald sew who wrote (752)	2/22/2001 12:18:59 PM
From: velociraptor_	Read Replies (1) of 52237

Donald...according to elliot wave theory there should be 5 waves down from the Nasdaq peak of which 1,3, and 5 are the down waves with wave 2 and 4 being corrective. The decline from the highs to the May lows last year was wave 1. The correction from then until early Sept was wave 2. Since then we have been what many elliot waves technicians are calling wave 3, which is also subdivided into 5 waves. Wave 1 of 3 down was from Sept 2000 to early January 2001. Wave 2 of 3 was the month long correction. It is assumed that we are now in wave 3 of 3 down which is the most brutal and we have only completed wave 1 of 3 of 3 down. Still a ways to go assumably... This would be considered the 2nd phase of a bear market. The third phase should pretty much bring a distaste of the stock markets to everyone. With 60% bullish consensus still and many trying to pick bottoms, we are no where near that.

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