jay........i have a difficult time with "hard" number projections...target directions,yes, but not hard numbers......DOW 9000 was the direction from OCT. 8th........as the waves develop you can use the "rules of thumb" to set targets and as they are approached it's time to see how they fit........9000 certainly looks too high right now.......................let me twist your ear for a minute
triangles, nearly always, live in wave 4.....you see a true triangle (5 abc's) you look to see if it should be wave 4
you see a big strong running wave, you think wave 3, if it fits the count
you get to wave 5 and you hold your breath and REALLY pay attention, this is what you are waiting for ....the real money is made by catching the 5 of 5 reversals and running with wave 3's
wave 5 can be the toughest......it can end as a truncation, and never exceed the top of 3......it can end as a diagonal triangle and be 5 abc's......it can just be a regular 5 wave move OR, OR it can be the home of the wildest extensions and extensions of extensions.......the kind of stuff we saw with ZITL, YAHOO, AMZN
know what i mean?
here is the deal......there is not supposed to be more then one extended wave
in the current cycle....the current cycle is the wave up from Oct 8th..........just before Greenspan made the surprise cut the 3rd wave was petering out...then it went absolutely parabolic........i view this as an EXTENDED 3 of 3..if i'm wrong shoot me.....therefore i am betting no extension
sure cuts the upside down doesn't it?
next wave down????? is it 3 of some horrible monster 5 down death move?
is it a BIG C wave down????? or since the low of Sept 1 is this the end of "a"
up....then a 3 wave "b" down...then a 5 wave "c" to complete a very large B
wave???
Jay, do you hate me now?.....i play them as they happen......we should certainly get, AT LEAST, a very nice ABC down from here...one to make a nice $$$ on.......but i'm not set on anything until i see the subwave structure of what happens next
the preceeding waves make it very, very difficult for me to believe that we are now completing the 1st wave of a 5 wave impulse up....the new bull to go to 10,000+
carl |
