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

To: Arik T.G. who wrote (33570)	11/12/1998 9:40:00 AM
From: yard_man	Read Replies (2) \| Respond to of 94695

What about the new high on the NDX -- granted, it was intraday?

To: Arik T.G. who wrote (33570)	11/12/1998 9:17:00 PM
From: Bull RidaH	Read Replies (1) \| Respond to of 94695

Arik, >>There are numerous occasions where a 3 of a strong trend is divided into two equal parts<< According to EWT, wave 3 of an impulse wave must also be an impulse. Thus, it can't be a 3 wave move (zig-zag). An impulse is defined as a five wave pattern labeled 1-2-3-4-5 moving in the direction of the larger trend. I have never attempted to label the subwaves of a wave 3 within an impulse as anything but a 5 wave impulse, and have never seen price behavior that would suggest otherwise, including the price period in question. Now if you want to argue this wave rule, i'll have to break out the "Hit Man" on ya...and you wouldn't like it!! <ggg> ;o) [Heil Hittle!!] >>Comparing the spring '97 and summer '97 corrections looks to me like comparing apples to oranges<< The spring of '97 correction met the minimum Wave 2 guidelines of retracing 20% of Wave 1. I have it lasting from mid Jan to mid April (3 mos.), and corrected 9 or 10%. The late summer/early fall '97 Wave 4 correction lasted from 8/7 -11/13, also roughly 3 months, and corrected 10 or 12%. It did not overlap any of Wave 1, and met all the minimum and maximum time and distance requirements for a Wave 4. Now how could we have a problem with the feel of labeling these 2 corrections wave 2 & 4? They seem close enough to perfect for me. >>common sense says that the market wouldn't be able to recover from yet another blow.<< I gave up on CS & CW when they almost broke me a couple years ago. I rely strictly on wild theories and innuendos, and hey, it works most of the time! ;o) (Carl, Pass the glue!) But this wave of selling and lower prices to begin next week COULD get out of hand, so we'll need to be ready for anything. Since i have wave A lasting 50 days (7/20-9/10), i'll be looking for roughly 50 days of a C wave decline from the date we begin the slide (probably within a day on either side of the fed meet next week). Still looking for a top in the 1150SPX area between now and then. The key trend line that should remain unbroken during this C wave decline is the 12/94 low connected to the 7/96 low, since that trend connects the starts of Primary waves 1 & 3 within this Cycle wave 5. It's coming through 843SPX now... Could you handle a move that low? Regards, David