Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Copeland who wrote (33054)	11/5/1998 3:26:00 AM
From: Jay8088	Read Replies (1) of 94695

For Elliott wave dreamers only.... I know it is no longer cool to predict a downturn below 7400 within this year. However doesn't this daily chart for S&P 500 suggest that the wave B is about over? iqc.com The first correction wave A, five waves down, finished on 8/31. The wave B up is a 'irregular 3-3-5 pattern' (where the b wave exceeds the 5th wave peak of the previous impulse wave ) which is finishing up now. So we may be heading for the C wave down which should bring us well below 7400 within 2 months. Furthermore such C wave down from here would be indeed surprising as few now expect such a nasty down wave. Well, it could be just my daydreaming...

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