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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (1210)	7/2/2008 12:50:42 PM
From: Perspective	Read Replies (2) \| Respond to of 3209

The significance of the 2007 high what I'm keying off at this point. It was clearly a blowoff event. I struggled to count the slop off the Nasdaq bubble top. I'm not going to get caught up in counting a daily chart if I see a clear pattern when I zoom out to the monthlies. One thing that I see rarely discussed with Elliot, but it deserves attention, is this: the nature of fractal patterns is such that, when you zoom out enough that you can no longer discern the micro pattern, the micro pattern is no longer relevant to the observable pattern. So, it's entirely possible to have a different count at one level of abstraction that may even conflict with the count one extracts at a different time frame. Don't know if Elliot himself would even agree. Don't really care either. Just my empirical observation. `BC