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Strategies & Market Trends : Classic TA Workplace
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To: skinowski who wrote (39989)5/22/2002 6:45:35 PM
From: Moominoid  Read Replies (2) of 209892
 
That is possible but I don't see the 5th of 5th being missing? Still a count like that has its problems. The opeing move off Dec 6 would need to be a "leading diagonal" and 4 and 5 overlap certainly if you include the intraday movement. So I ahve my first wave as 3-3-5 and hence the whole thing as an ED. As I said I don't like the diverging trendlines. So my other count has wave 1 down on here as just A (or is it 1 I never am sure how to label EDs) of wave 1 down then B up to what is labeled 2 on this chart and C down to 3 several days ago - and that is just the first wave of the ED. INtraday the current wave is already overlapping with the A or 1 wave so I am not looking for 5 waves down, hence the ED idea. This larger scale ED (I posted this before and then overwrote it with this - need to put both up) means more bullish current implications with a move to maybe 1600 again for wave 2 of the ED. But longer term it would take much longer to play out.

With the recent overlapping action I switched back to this count to expect wave 4 of the ED to be a 3-3-5 combination. I think somewhere I saw a picture of an expanding ED.

David

Edit:

I now posted the alternative count:

cres.anu.edu.au

This conforms very nicely to monthly slow stochastics.

David
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