"what impulse do you see this as correcting"
Unless I'm missing something major, every possible pattern coming off the NYA high could have a zig-zag as the first significant corrective leg up ("b" or "2"), and within that zig-zag, the first wave must be an impulse or leading diagonal.
I haven't been able to divine a count off the high; I just pump the total amount of information I have into consideration. The most likely scenario for me remains that this NYA impulsive up is "A" of a zig-zag. While funnymentals only serve to confuse on the shorter timeframes, I think it is fairly safe to use the funnymentals here to determine that a significant bull market top has been established. And while I may not understand the roads we took to get here, I can survey the landscape and make a guess as to where we are.
Unfortunately, that's all I have at this juncture.
Well, I do have these thoughts, but I don't feel really strongly about it:
geocities.com
I'm still waiting for HB to answer which index he bases his cycle counts on. If it is Old Eco based, as I suspect, then I think his turn will be a high in the NYA/Dow, mid-week, leading to some nice down. Unfortunately, it will be corrective in nature, and thus choppy and difficult to trade.
BC |
