No, no zigzags with B's reaching new extremes are allowed. But - one must be disciplined, but not too dogmatic... when it comes to one's money.. -g. In the end, all TA - incl. EW - is about probabilities, and not about absolutes.
Shack (and all), if you are reading this, I am sure you didn't forget the "Big ED" theory which was bounced around here some months back. I think it would be a great way to bring into perspective all those annoying "threes" since early 2004. I can see the possibility of some fireworks over the next few weeks... maybe new highs... but certainly some psychological highs, needed to bring sentiment indicators up to more "optimistic" levels.
If we do get to that 61.8% retracement of the Bear in the mid-1250's, that would be almost too cute... but who knows, stranger things have been known to happen.
stockcharts.com[r,a]daclyyay[de][pb50!b200][vc60][iub14!la12,26,9][J49085868,Y]&listNum=1 |
