Silicon Investor (SI) -- The First Internet Community

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 -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (43277)	8/30/1999 5:14:00 PM
From: Death Sphincter	Read Replies (1) \| Respond to of 94695

Arik...what you see, from 10/8 on, is entirely plausible. ...how it fits with the LT count is, as always, open to debate. there is little doubt in my mind that the NYSE and SPX have been forming an ending diagonal type scenario, this has been my contention for several months. another view of how this fits is as follows: the entire move up from Oct 8th is a very large ABC (vs a 5er) what you have labeled as minute 1 is "A" minute 2 is "B" and minute 3,4,5 can be a 5 wave ending diagonal "C" (in constructs rather nicely) one way this would fit into a LT would be to consider the Oct 1997 plunge as a wave 4 in a Longer Term count....with a very large 5th wave ending diagonal begininning from there composed of 5 large ABCs Wave 1 up to the 1998 high area as an ABC Wave 2 down as an ABC plunge to Oct 8th Wave 3 is the run up from there now that would be followed by wave 4 to take it down to AT LEAST touch into wave 1 (at least a test of the Feb lower range)and quite likely somewhat lower and this would be followed by wave 5, another large ABC up with its eyes targeting the 12K area IF..this were to happen, we would get the wave 4 plunge now followed by another strong 'buy the dip' opportunity as the old "its all priced in" mentality kicks in and then whammo---more rate hikes? and the YK2 snafu and FEAR of YK2 kicks in for another big one returning the DOW to the "4th wave of one lesser degree".....which would be the 8300-6975 range of Aug-Oct 1997 Arik....both scenarios seem to be the best fits the neverending bullishness of the market, the dumptrucks full of money dumped in constantly, the trained response to 'buy the dip' and the seemingly 'irrational ex.' attitude of EXPECTING 15%-20%+ returns by the vast majority leads me to lean towards the 12K scenario REGARDLESS......... what appear to be the 2 best counts both point to the same thing.....a large one down in the making Stinky