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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (17959)	5/5/1998 5:18:00 PM
From: Death Sphincter	Read Replies (1) \| Respond to of 94695

Bobby.....I keep looking for something that fits and I have to honor internal subwave structure for ABC as I said I'm very uncomfortable with the wave 4 scenario that you stated....... These are complex and bizarre times!!! I will make this post in 2 parts..for part 1: I want you to go look at the charts on S&P 500 for July - Nov 1997. You will see that both the DOW and S&P hit new highs on Aug7th , the S&P then made another new high on Oct 7, but the DOW did not. so which do you believe for your EW call? lets look at the S&P: this will be quick and sloppy Aug 7: wave 3 has ended and 4 begins...it is a complex ABC....with a of A beginning Aug 7...and c of A ending Aug 29 ...it is a 3 wave move and the subwave is a 5-3-5 (a has 5 subwaves, b has 3 and c is truncated)Elliott says it is common for c to truncate when a former wave gets ahead of itself as "a" did. Then B starts: ...........it runs from Aug 29th to Sept 22nd............ ........ it is a zigzag and as such the subwaves need to be 5-3-5..... a of B starts on Aug 29 and ends on Sep 22 it has 5 subwaves(2 is complex so 4 is simple on Sept 17)......b of B is a quick 3 wave zigzag that ends Sept 25th. ...c.... begins Sept 25th and ends Oct 7 th it is 5 subwaves(can be seen on a daily) the whole B wave is a 3 wave move(abc) Then Big C...it is a 5 wave but 5 is truncated in November because 3 was a runaway monster and did the job. The whole wave 4 fits an expanded "flat" . flats have to be 3-3-5. it is expanded because B ended above A. it is more common for C to stop short of or even with the bottom of A..but in crazy markets wild things happen............ now in looking at the chart it would have been VERY EASY , at the time, to have said the corrective wave 4 ended on Aug 29th and wave 5 impulse was running up to Sept 7th, wouldn't it?....more later...check this out first