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Strategies & Market Trends : Classic TA Workplace

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To: hawkeyefan who wrote (128429)	1/25/2006 5:29:51 PM
From: skinowski	Read Replies (1) of 209892

When you have consolidations after an impulse up or down and then the market reverses and goes the other direction (mid to late October 05 as an example}-----should you bother to count that as anything in EW? From an EW point of view, everything in the markets is a continuous flow. Therefore, everything "counts" - either as a motive wave, or as a correction. Looking at the hourly charts, the October reversal in NDX started (very likely) as a Leading Diagonal. SPX took off as either a series of 1's and 2's, or as (Prechter's) Broadening Leading Diagonal... (which is a bit of a conundrum, since according to Shack (and me) this formation does not exist... -g) On INDU, the rally took off as a series of 1st and 2nd waves, where both 2nd waves seem to be Expanded Flats (the last one ending on 10/27) Are they worth analyzing? I think they are. For instance, on SPX the spikes off the lows in late October were impulsive, which was a clue that they may have been getting ready to do something other than... breaking down.

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