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

To: Berney who wrote (51647)	8/29/2002 9:23:46 AM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

The problem with your wave 4 down idea is that on many charts, particularly the tech charts, we have gone down past the top of what you would have to call a 1. When that happens, you can forget the notion of a 5th up.

To: Berney who wrote (51647)	8/29/2002 6:29:42 PM
From: UnBelievable	Respond to of 209892

Since Yesterday's Low In SPX Went Below What Would Be The Top Of A I'm thinking that we concluded C up at the high on 8/22. Which would have us in 1 down of this next impulsive wave down. Within that 1 I think we are in 4 (flat). While it is true that there is no correct count (except perhaps in retrospect there are many incorrect ones. I have found that the benefit for me of Elliot is that always reminds me that things always go up and down regardless of which way they are going, as well as giving me a much better sense of the few most likely alternatives. When one or more of these alternatives "works" well when considered in the context of TA and the overall market gestalt it has tended to enable me to improve the quality of my guesses. Gestalt - a structure, configuration, or pattern of physical, biological, or psychological phenomena so integrated as to constitute a functional unit with properties not derivable by summation of its parts.