Waiting for the big Kahuna Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: RWS who wrote (18424)	5/13/1998 12:36:00 AM
From: Bull RidaH	Read Replies (1) of 94695

RWS, It's still a very tricky wave count right now as you well know. If this wave up we're in continues in straight up fashion into the mid 1130's or higher (began at 1107.40 @ 2pm today), then I may lean towards this being intermed. 3 of primary 3 up, with the correction termination on 4/27. No matter what wave it is, that secondary double bottom that formed today projects up to 1131 on june futures, and the 1st double bottom I discussed earlier is still very much a factor that should drive the market up towards the 1138.80 target. Action breaking above the 1130 area constitutes a break out of the large coil pattern I've described earlier, with its 55 S&P point propeller from the point of breakout. So I will continue to lean long, and be flexible with the wave count until it can become more conclusive. These technical patterns (double bottoms, coil) are too reliable for one not to restfully depend on them and get all worked up over which wave count is correct. I like to primarily navigate by wave counts as well, but I just don't think they can be "primary" in importance at this juncture. Regards, David

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next