Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Henry J Costanzo who wrote (135452)	8/10/2006 12:59:20 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

Huh. I can squint at the Daily SPX and see 5 waves up off the low of the 18th, and breaking that down I can see a wiggle ending to it -- very sharp 2 on the 20-21st, etc. Not an ideal impulse, of course, but the wiggle ending is there. But then, of course is the question... what ended? If that was the end of a C up of a bigger correction, we should now get a brother move down to the May-June decline (which was 3 waves to me). If it equals that, we're going to 1185ish SPX. Quite a ways lower. But if we're doing something else... well... your guess is as good as mine!

To: Henry J Costanzo who wrote (135452)	8/10/2006 1:32:06 PM
From: tjkong	Read Replies (2) \| Respond to of 209892

The C wave of a flat can be an ED. Prechter in his book (pg. 36) says "A very small percentage of ending diagonals appear in the C wave position of A-B-C positions" but in my experience it's not all that uncommon. And as Freep says, I can count 5 standard (non-ED) waves up in the SPX off the 18th low, with a "running"(upslanting) triangle wave 4 from 7/27 to 8/3. I'm counting those 5 waves as the C wave of a flat off the mid-June low (though I'm not betting the farm on that count--yet).