Sorry about that. New link to QQQQ chart.
stockcharts.com[g,a]eaolyyay[d20060103,20060311][pc9!c50!i!f][vc60][ilb14!la12,26,9!lp21,13,8!lp13,8,5!lp8,5,3!ll14!lg][j70624773,y]&listNum=1
While I think we get some temporary upside today, here is part of a post I made on another board about why I don't think the flat count is correct (and hence the iii up is not on tap just yet), at least for the QQQQ:
According to the flat rules at CyclePro (which are derived from Elliott Wave International, Prechter's outfit), the flat count doesn't really meet the criteria. I'm especially concerned that B didn't retrace enough of A (3rd flat rule) and that C didn't end a similar % below the bottom of A as it was below the top of A when it started (12th flat guideline). Which is just a roundabout way of saying that A should equal C. In fact, the equivalence of A and C is the basis for my own forecast, fwiw.
geocities.com
geocities.com |
