Hi mc,
Hope you had a good weekend.
The other day, you had discussed the current possible wave count for the various indices.
>>NDX this AM has joined SPX and COMPX in breaking UT line from Apr and Jul lows....Also, in clearly breaking below 50d MA support.....
Next support at the 200d MA..???..NDX 1535, COMPX 2074, SPX 1195 (all present values)..
All appear to have moved into waves (iii) down of 3 down, the Aug 3 highs......<<
I want to see if I understand your scenario properly. I should mention that this is the first chart I've ever annotated, and...well...it's not quite as "artistic" as many of the charts I see on the thread! <vbg> Couldn't figure out how to increase the font size, and as you'll see, I had my share of difficulty getting circles around the numbers. <g> Anyway, I'm wondering if I have your count correctly represented in the chart? I welcome any corrections you (or anyone) may have.
stockcharts.com[w,a]efclyyay[d21][pb50!b200!d20,2!b20!f][vc60][iub14!la12,26,9!lk14!lp14,3,3!li5,3,3!lg!lyb20,2.0][J57716867,Y]&pref=G
By the way, just to explain, in order to have a (iii) of 3 in my chart, I had to have an extended wave iii (<---the one with a circle around it <g>). But now I'm thinking that maybe on the thread, this wave degree (the minute degree) is skipped because it's difficult to type and annotate? If that is, indeed, the case, then I suppose this would be the scenario? Hope I'm making sense! :-)
stockcharts.com[w,a]efclyyay[da][pb50!b200!d20,2!b20!f][vc60][iub14!la12,26,9!lk14!lp14,3,3!li5,3,3!lg!lyb20,2.0][J57716866,Y]&pref=G
And while I'm doodling, I thought I'd post a chart of the contrary (for lack of a better word) point of view with the five wave pattern off of the April low and an ABC correction off the August high (as opposed to an impulsive five wave pattern down off the August high). Am I depicting this correctly?
stockcharts.com[e,a]dfclyyay[dc][pb50!b200!d20,2!b20!f][vc60][iub14!la12,26,9!lp14,3,3!lk14!lg][J57856432,Y]&pref=G
Please (any of you) feel free to comment/criticize/nitpick. I'm sure I've made plenty of mistakes! |
