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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (47466)	5/16/2000 9:23:00 PM
From: Death Sphincter	Read Replies (2) \| Respond to of 94695

'generally' speaking an impulse wave is a 5er... 1 is up,2down,3up,4down,5 up....2 won't go below the beginning of 1, and 4 won't go below the beginning of 3. 2 and 4 would be the correctives example: after the market correction of 1994 we started a big mama impulse wave. during this uptrend each pullback was a 'corrective'as it moved opposite the direction of the wave of one larger degree of which it is part of when the corrective is happening as an ABC(a is down, b is up, c is down) A and C are actually impulses now when you get in a true bear market you will see some serious 5ers going down as part of the DOWN trend......and these should follow the same guidelines as in an impulse move up....that being 1 goes down, 2 corrects up(not to exceed beginning of 1) 3 goes down, 4 corrects up(not to exceed beginning of 3) 5 goes down nice clean textbook examples are the exception as there are always a lot of 'muddy'waves.....and therefore the drawback to ewaves, ambiguity what David and I were talking about in regards to the NAZ was the reversal up from the low on May 10 afternoon...to get us into full blown glue sniffing euphoric bulls we would have liked to have seen a nice clean 1,2,3,4,5 impulse wave up, complete with an extended strong 3rd wave up accompanied by strong volume, good A/D etc. but it looked wishy-washy tripping over itself and lapping back down in more of a 1-2-3 look (abc) and therefore has bad odors suggesting it is just part of a complex series of waves, waves that are moving counterdirectional to the big plunge from 5200-3227, corrective waves...and not an Impulse wave UP This may prove totally wrong! but when betting my $$$ I want a solid set-up, doesn't mean its not a tradeable play and as I stated here I went long there with a stop/reversal position below the 5/10 afternoon potential reversal and happily cashed out too early Ewave stuff is very sloppy and though it is my primary tool I am never married to any read. I like it when they have a fairly 'clean' count that completes itself right on a trend line of a larger magnitude. carl