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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: Bull RidaH who wrote (19137)	11/17/2014 1:54:15 PM
From: POKERSAM	Respond to of 41411

Bull RidaH - You will get no argument from me. Good stuff.

To: Bull RidaH who wrote (19137)	11/17/2014 3:09:48 PM
From: skinowski	Read Replies (1) \| Respond to of 41411

Thank you for your thoughts, BullRidaH. Looking at the 30 min chart, the SP action since the minor top of 2041.28 on Nov 11 started out as a prospective Broadening Triangle, with waves B and C, respectively, making a new high and a new low. After that, it looks as if Mr. Market changed his mind, and completed the formation as if it were a regular, Symmetric Triangle. Well, EW analysts are very protective of their terminology, as invented long ago by old Ralph Elliott... -g. Hence, we will refrain from calling this a Diamond-shaped triangle, or anything of this sort. There are other ways of labeling it. But, in the end, it's a pattern consisting of 5 "three-legged" moves, in a location where it would look good serving as Wave 4. What we would expect is a break upwards, and then a reversal. Same thing that you said, in a little different language. Coincidentally (or not?), Nov 20 is an important Bradley turn date. Not an expert on Bradley, but I find this interesting.