A correction is never a single 5 wave impulse>>>>
stockcharts.com[w,a]dallyymy[d19980701,19981101][pb50!b200][vc60][iUb14!La12,26,9]
now you can be an elliot waves sissy and say there are overlaps in the 98 down wave, but i'm not a purist, waves are tides of emotional buying and selling and cannot be classified in such rigid constricts, elliot while genius, had a somewhat limited sample to construct his theory
five waves the jig is up, 3 waves the jig is up.
a lot of stocks made five wave bottoms on 9/21, there may be more that will make a five wave bottom on the retest or new low,
betting on a 30's replay?, i doubt it, greenspan and bush are well aware of history, they are pulling out all stops to prevent that, a trading range like the 70's to eliminate the excesses of the 80's and 90's bull market is a better bet, unless you think the bum-larden revolution is gonna bring 20% unemployement and america to it's knees.
how bout them yankees -g- |
