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Strategies & Market Trends : Longer-Term Market Trends

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To: Perspective who wrote (1409)	7/19/2008 5:08:28 PM
From: patron_anejo_por_favor	Read Replies (5) of 3209

Long term e-wave of WTIC....I think this is worthwhile looking at, given the recent market sensitivity to crude: Long term count-currently in e of III of V: If this is correct, then the next question is: "Are we near the end of "e" and therefore III with a multimonth correction in crude dead ahead"? To get a little better look, here's a count since late 2006 focusing on the "e": This would put us currently in a 4 of 3 of e of III (I probably screwed up the nomenclature) off the long term bull for crude. Questions: Is this a viable count and what are the best alternatives? If it is correct, presumably 110.35 cannot be violated. Assuming a higher floor (say 120-25), if 5=1 we'd get a target of around 16-65 before a prolonged wave 4 correction hits, which seems entirely possible. The subsequent wave 4 correction could then drop as low as 100 or so without violating any major Eliott rules....(although a realize pullback of a lesser degree would also be possible). Any thoughts or tutoring will be appreciated. I suck at Eliott, so be gentle!

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