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

To: Henry J Costanzo who wrote (125075)	10/15/2005 10:20:33 AM
From: Moominoid	Read Replies (1) \| Respond to of 209892

Read all the free stuff from ElliottWave International this week. They retain their hyper-bearish stance, which may color some of their counts. Only in Australia they have to do a bull market count :) They are very fond of WXY corrections too and these often aren't sideways at all, which was my impression of what they ought to be (?). The whole move from 2002-5 in SPX is for example a WXY according to them and is completed. They think we are now in the new bear - a major degree wave 3 down with wave 1 being from 2000-2002. They still think the Dow is going to 400. They are bullish short-term on the USD though. Bearish on gold. Short-term bearish on oil etc. They don't follow the NAS or the smaller cap US indices. I feel if they did they may be forced to reassess their stance.... If mine and MC's etc. SSPX/NDX counts are right then they will need to redo their count on SPX in only a couple of months time. Their Dow count might hold up better (not that it is going to 400 - I find it hard to understand how such deflation is going to occur) - they still believe we are in deflation now using discounts on cars in the US as an example...