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

To: pedro_deleon who wrote (35255)	5/15/2019 1:32:08 PM
From: skinowski	Respond to of 41498

I go with the view that the period from 2947 on May 3 down to 2836 on May 9 was Wave 3. Well, in theory it may have been c of A. Like I described, there are a few possibilities, and us being in W2 is one of them. Not quite grasping the key importance of 2867. I can see how it can get taken out without changing the odds to the bull side. Looking at the larger picture, the rally since Dec low was about 600 points. If this is W2, it has room to go lower. If W2 was in March, this decline may be correcting the move since the March low (2 of 3). Whichever it is will likely determine how deep it goes. Below 2722 it would be, obviously, correcting the entire rally since last December. Practically speaking, simply going below 2800 would make that last scenario more likely.