Boy, no good deed goes unpunished! The perma bull squad is going nuts. I just warned that there was a probability that wave [2] of A in the bear market had reached a top and they are losing their minds. I don't know if they are pulling their hair out, but it would not surprise me. I did it in a nice non-threatening way but that doesn't seem to matter. They just refuse to consider any view but a totally, eternally bullish one.
There can be no calm discussion. Their response is to attack anyone who dares to disagree with the Bull.
Poor Breeze is ranting about the three different possibilities I went through to find the correct pattern for this correction. First it looked like a WXY then an ABC and now a longer Wave A with us in [3] of A.
A change of direction to down from 4818 in three waves can be a WXY, an ABC or a 123.
The WXY was invalidated, then the ABC was invalidated and now the 123 of A is in play. One of the great things about EWP is the way it will eventually reveal the truth by eliminating other options. It works well.
All three of these are three wave structures which slowly revealed their true count. Big deal!!!!!!!!
They, on the other hand, called the bottom of the correction and going to new ATH four times before the last one at 3491, Breeze called it at 4222, 4114, 3810, and 3636. This amounts to five total MAJOR revisions of his wave count. He has ended up with a huge wave (4) that is way out of proportion to his short little (2).
It is obviously incorrect. Anybody can be wrong, but it appears not everybody can admit it.
It will be interesting to see what they say when the market breaks 3491 as we go down in wave [3].
One thing is certain, there will be some new count revisions for a lot of charts. Googl comes to mind. lol |
