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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 680.44+0.6%Dec 19 4:00 PM EST
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From: POKERSAM8/2/2014 6:19:20 AM
1 Recommendation

Recommended By
GROUND ZERO™

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IMO the market bottomed at 1916 on Friday. That bottom ended a wave four (iv) that began at 1985. Wave (iv) was a double three sideways labeled wxy and had sub waves of 3-3-3. We will now go up in (v) of [iii] to a new ATH. (v) will be a five wave impulse.
Some thoughts on wave (iv) of [iii] that we just completed. This was a good example of how difficult wave fours can be. A four can take about 12 different patterns. Four can be a flat, triangle, zig zag, and many combinations of these corrective patterns. They can drag on for a long time, up to twice the time taken by wave three. So fours are difficult. The four may complete a perfectly good flat and you think it is over. Then it will fake you out and continue, ultimately forming a different pattern and dragging on and on.
So RULE #1 Never, ever, trust a wave four.
Having said all that I must add that this is JMO and I could be wrong. Remember this is a wave four. heh heh
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