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Strategies & Market Trends : Raptor's Den II -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (325)	4/20/2003 1:37:15 PM
From: mishedlo	Respond to of 3432

From Brian in response to my question.... What are the possible counts for this mess? Can we be in wave 5 now with wave 1 up starting in July, wave 2 retracing nearly 100% of wave 1, wave 3 retracing nearly 100% of wave 2, wave 4 78%(or whatever) of 3, and now finally wave 5 at unknown % of wave 4. Hey Mish - That's about right for that Triangle count. These things are usually counted a-b-c-d-e in the place of 1-2-3-4-5 in EW, and the 5th wave (wave e) can often over or under shoot the trendline. That $SOX chart I posted the other day was an example of a Triangle with a over-shooting wave e (I guess it sometimes likes to take out all the stops). But the end result is that same - a continuation of the trend. Non-Ewave example: Symmetrical Triangle stockcharts.com Earlier this week it was mentioned why some EW people don't like counting this a Triangle. Those concerns are there because it would effect the long-term count of the Bear, not because it would alter expectations for the rest of the year. That Triangle will break down after wave e (if it is a triangle), and it will follow a similar path to the counts I have of the last 9 months. Brian