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

To: NOW who wrote (64029)	1/20/2003 4:02:44 PM
From: At_The_Ask	Read Replies (3) \| Respond to of 209892

From a basic ewave standpoint that count is invalid. As was the very long term one he posted. He practices neo-wave which is something I haven't studied. From what I've seen of it I don't think I want to...ng.... I think we are going lower for the first q to half of 03 and will probably make significant new lows(670ish spx?). IMO dow 3k naz 500 will have to wait a couple years.

To: NOW who wrote (64029)	1/20/2003 4:34:38 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

I find this Neo-Wave stuff intriguing. Half decided to buy Neely's book. Not immediately - too busy now - but I will. From the text of Zoran's post: The fifth swing completed almost exactly where [T5] = 0.618 [T3]. This starts the down move. The down move has two of requirements for it to be an effective break. The first is that high momentum breakaway move is required. If the move turns back on itself and rises above “D” of the 5- point reversal then it is most likely not the breaking move and either there is more to the topping 5- point reversal or something else is at play. The second is that [T4] needs to be taken out in less time than [T5] took to form. Once [T4] is taken, it will also complete a HEAD & SHOULDERS topping pattern. The market action after TERMINAL IMPULSE completion must retrace the entire TERMINAL pattern in 50% or less of the time that the TERMINAL took to form. Usually, all that is required is 25%, give take a few percentage points. A TERMINAL pattern always completes a larger formation and the high or low in the TERMINAL creates should hold for approximately twice the period or more that was covered by the TERMINAL. If the terminal is the fifth wave of impulse move pattern, usually the larger IMPULSE will also be completely retraced. (See G Neely Mastering Elliott Wave page 10- 10)