David...I have come to a similar read as yours, i stated this to Bobby in post 17627. However, I can read it a bit differently. I, too, can see Wave 4 ending on March 27 with a quick sideways move, which would support the Alternation Theory. Then Wave 5 began, which you see as ending on April 6, however, this would require a lightning quick 2 of 5....therefore, in honoring the Alternation Theory, i see April 6 as the end of 3 of 5, followed by a more complex Wave 4 which ended on April 16, followed by 5 of 5 ending on April 22.
Which puts us in the ABC primary correction....with A ending very late Tuesday afternoon. Today at the daily high we were in c of B.....I feel that if tomorrows economic news is NOT bearish that we will continue up, therefore, the high at 3:30 was 1 of c, and the sell off at the close was 2 of c, with 3 of c to take over on good news.....if the news is perceived as bearish then a break below 8928 would signal the end of c of B and the beginning of increased rope sales for all call holders(C down).......if the news is good then the c of B should continue its 5 wave climb fueled by end of the month inflows to funds and short covering......my initial guess is that it should fall short of the high on April 22, this being that A was a 5 waver and we should get a zig-zag correction. If this scenario plays out, the subsequent C wave is a potential bonanza.
if you think this read is acceptable please sign below were indicated and send your check or money order to:
Carnac
Lafayette, Co 80026
if you do see this as legit could you give me some appropriate timetables, i'm a bit weak in that department.
if you think it has a hole and I am an idiot, please flog me in public, as it is the only attention I receive.
Carl |
