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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (47916)	7/28/2002 6:07:15 PM
From: skinowski	Respond to of 209892

There are different opinions as to where the latest great advance has started. I remember that Bob Prechter, some 3-4 years ago, in one of his EWT issues went to great lengths trying to decide that. The bottom – expressed in absolute numbers – in the SP500 occurred in October of 1974. It is interesting that adjusted for inflation the bottom, indeed, was in the summer of 1982. On the ‘adjusted’ chart, the ‘up and down’ waves in 1982 were actually sort of ‘smashed’ into creating a new low, much below the one in 1974. I suppose the count may depend on whether one uses a pre - or post inflation chart. Prechter, I think, still sticks with the absolute numbers - that's why it was possible for him to count 1987 as the top of 3 (the low in August of '82 being 2). Onischka, actually, shows in his post both possibilities.