GZ......from your post.....".I fully agree that there is something very wrong with this picture.
Honestly, Arik, this is the very mystery itself why I keep getting buy signals jumping out all over the place in the face of imminent monetary disasters worldwide. I can't ignore my technicals, or argue with them. That would be foolish. "
i am of many years a student of Elliott, i believe there is a very good chance that we are in a large Cycle correction that began in April..........in June-July there was what appeared to me as a stupid, senseless run up, i said "something is wrong with this picture"........The Cycle looks like a BIG ABC.....the "A" started in
april and breaks down into a smaller abc....."a"-- apr/may...."b"-- june/july
"c"--- Aug ........we have now entered the Big B...it should have an "a" up...then a "b" down...then a "c" up.......after that the BIG C Down............
reason i bring this up is that i believe we are in the "a" up part of the
Big B wave up.........i would like to paraphase a description of B wave personality from the masters of EWT...............................................................
"B" waves are frauds, they are sucker plays, speculators paradise,daytraders dreams, expressions of institutional complacency. They often lack breadth, they focus on a narrow range of stocks, they are often unconfirmed by other indicators..ie. Dow Theory and others...they are rarely technically strong, they often fly in the face of overall fundamentals...they are often bull or bear traps....
they are virtually always doomed to complete or greater retracement by the ensuing C wave. If the analyist says to himself "There is something wrong with this market, this doesn't make sense", chances are it is a "B" wave.
sound familiar? i said the same to myself back in July
carl |
