SI
SI
discoversearch

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 ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Temple Williams who wrote (19024)5/25/1998 1:34:00 PM
From: bobby beara  Read Replies (1) of 94695
 
Temple, that channel I drew is a Andrew's Pitchfork. Ground Zero who hasn't posted here for several months turned us on to this indicator that he has used almost exclusively as his long term market timing channel and he has done very well with it and in the short time I've been studying it, I've found a lot of merit in it.

You find low point, then draw a line through the mid point of the next major high and low. You can see that the run up followed the mid channel nicely until late March, early April when it pierced the channel and then broke sideways, coincidently when the market peaked internally.

I'm a hopeless e-waver too and the biggest problem is recognition and naming. That's why e-wavers get a bad name, it's an art and not a science.

I am aware of your count and I would like you to give thought to an alternate count. August 6th thru Jan 12th was and ABCDE fourth wave correction. Jan 13th thru April 21st was the completed 5th wave of the grand supercycle and April 27th was Wave 1 of 1 down for the crash. I am not married to this outcome, but would propose it as an alternate count.

Something that fooled me about this market, is that I thought we would see a buying climax in the major averages all at once similar to October 8th (and similar to 29/87), however with the breadth of this market we saw buying climaxes rotate from sector to sector over this two-three month period spreading out the topping pattern into a pancake.

"History never repeats itself exactly but it rhymes" Marke Twain

Enjoy your site - Thanks

bobby b
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News