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

To: illyia who wrote (1581)	8/6/2008 1:01:55 PM
From: AllansAlias	Read Replies (1) \| Respond to of 3209

The question of the day: Is "C" down complete? Period. - That is The question - Not quite. First, can we just forget for now the shorter-timeframe wiggle stuff -- that is the abc-x-abc up-channel posted earlier today, and to a lesser extent, the SPX abcde triangle posted here as well. Those are all about the next few days, not months and years. Now, on to the more important matters as regards your assertion that the question is: Is "C" down complete? You replied to a chart I posted showing the longer-term bullish count -- that we have finished a correction, a 4th wave out of the 2002 low, and will soon be heading to new highs -- which I do not favour. The bearish count is that we are doing a "big C", which would bring us back to the 2002 lows. Both of these are posted below to refresh folks memories. Please bookmark this post so we can just refer to it in future as "the scenarios post". Tx. Anyway, when we are posted the short-term stuff, we are only trying to place near-term market behaviour into this larger context. When we see something like a deep low, followed by overlapping, up-slanting price action, we can say that the low might not be "the" low of the last move, as the market is putting in a pattern that is, more often than not, a continuation patter (i.e., of the high order down move). Talk of these little moves is fun, but it is not that important, except maybe for entry/exit -- we want to stay focused here mainly on the wider timeframes. Here are the two wide-timeframe scenarios. In the bullish alternate scenario, those light blue 1-2-3-4-5 labels, and the reddish a-b-c labels, are the same labels from the SPX chart posted earlier today -- it is the exact same proposition.