John,
Very nice work. I must admit, I find Elliot Waves to be subjective and very confusing. In retrospect, I can find the waves. In real time, that's another story. I have decided to try and keep it simple. The first 3 waves are usually easier to pick out in real time than waves 4 and 5. So, I just use 3 waves! 1-2-3 and wait for another wave 1.
This concept has me out of oil service at this time. Wave 4, if it comes, will be a wave 1 for me and I'll play the wave 2 and 3 when it comes.
Still haven't got the knack of drawing pitch forks either, although I enjoy it when you post them. In an effort to try and keep things simple, I can measure money flows and volume so that's where my focus is.
It's funny how more times than not, our analysis comes to the same conclusion although we have a different way of getting there.
My analysis, at this time, concludes a different outcome than yours. Yours may be more forward looking than mine, and I could change my mind in a day or two, but for now, I think we'll see lower lows in the OSX and OIH.
I'll change my mind when I see the OIH close above $80.50.
dabum |
