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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stcgg who wrote (57605)	8/2/2000 12:08:50 AM
From: John T.	Read Replies (1) \| Respond to of 99985

You cannot have a lower 'b' wave to a final 5th wave, as your chart is showing.. The ABC correction is called an "inverted expanded flat." According to Prechter, "In expanded flats, wave B of the 3-3-5 pattern terminates beyond the starting level of wave A, and wave C ends more substantially beyond the ending level of wave A." If you have a copy of Elliott Wave Principle: Key to Market Behavior by Frost and Prechter, take a look at pages 46 to 47. Also, 3rd waves are generally at least 2X 1st and 5th waves, and the 3rd of 3rd waves have historically been the longest.. So it would not be unrealistic to expect a 3-4X wave length (to the 1st and 5th waves) on this descent.. I agree in general with this statement. I was just saying that as a minimum wave 3 must be at least as long as the preceding wave 1, because under Elliott Wave principles wave 3 cannot be the shortest wave. That's why I call the 3rd of 3rd wave the "Big Kahuna"! Agreed. In a bear market, wave 3s are KILLERS....