>>That NDX chart, in your post, sure looks like it needs a 5th wave to complete the down sequence.<<
I am completely unqualified to make E-wave comments, so I'd love to take a stab at it. <ggg>
I have two problems with those who consider April as the end of 5 waves down. First, wave 4, the January rally, was far shorter than wave 2, the May-August 2000 rally. As far as I know, that shouldn't be the case.
And second, the move down from September 1-April 4 all occurred on essentially the same downtrend line, so I don't see how it could be viewed as two separate moves, but that's a trendline argument, not an E-wave argument.
In short, I don't see the case for the big "C" rally that E-wavers are calling for.
Just my not-so-humble opinion. ;-)
Best,
Paul |
