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

To: Moominoid who wrote (57809)	10/26/2002 2:49:44 AM
From: Shack	Read Replies (1) \| Respond to of 209892

There are non-Elliott wedges as well. They don't necessarily conform to the ED rules but where price is contracting and will break in the direction opposite the slope of the wedge, its classic TA. The theory is that when a wedge breaks in the anticipated direction, it will head back to where it began stockcharts.com BTW, upon perusing the charts, I find there are a lot of wiggle head and shoulders in the indices that formed this week (QQQ, SPX, DOW). The volume patterns look right for them to be valid.

To: Moominoid who wrote (57809)	10/26/2002 2:58:08 AM
From: heehee1	Read Replies (1) \| Respond to of 209892

David. I know very little of ewave and lurk around here to learn. But your count stirred up a few thoughts in my head. If your count of a supercycle 5th of a supercycle bull is correct. May I ask with what money are they going to propel this 5 with? I mean, after 3 years of bear, we still haven't worked out the overvaluation problem... not to mention the upcoming unwinding of the bourgening debt bubble, and... we've yet to prick the bubble in the housing market.. Oh yeah thats right, we don't have a real estate bubble... In addition, baby boomers are getting ready to cash in the almost nonexisting social securities benefits in a few years. Ah... last but not least, the pension funds, corporate America have to replace the money they stole to J6P pension funds... Where the heck are they going to get that from?? If you digress all of the above problems and not counting the ones in the closet, just where will the money come from to give us another cyclical bull? Based on the unfolding events I see as a perfect storm, I respectfully don't think the supercycle 5 count is correct. The sideways B for years to come seems most applicable given our current economic conditions. Like I said though, I'm hardly knowledgeable with Elliot wave counts so this is just MHO. The B count makes the most sense to me. Personally, I'd love for the BIG 5th to come.I'm tired of this bear market. I'd sure like to party like its 1999 again. It was a lot less stressful then. Best.