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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (3919)	1/24/1999 10:47:00 AM
From: bobby beara	Respond to of 5676

ATG, the cumulative nasdaq/nyse breadth chart also was most interesting to me. You can get a really nice wave count in it with the 10/97 top, the 4/98 top of corrective wave two and then the slam bang wave 3 into 10/8. Now we are in the wave 4 consolidation period. I believe that the top is in and wave 4 in the a/d line may have ended at the recent lower low in the summation index. GDAX looks like it's completed a bear rally. FTSE double top reversal. Hang Seng looks like it's ready to retest 8500. I think we could see 8600 and maybe even 8200 within the next week. The major indexes are hard to get a good wave count from because stocks that were in very strong bull markets or very oversold bear markets bottomed on 9/1 with an ABC correction. Other stocks bottomed on 10/8 with an ABC-BC correction. The INX2 index has the clearest wave count with a higher high on 10/8. This is one of the few indexes that was not effected by the 10/8 crash and therefore is symbolic of the continuing bull and the market leader. Money managers have been pouring money into internet stocks and more conservative managers have been pouring money into infrastructure stocks to get a piece of the internet. This mania has become much more widespread than most market professionals are perceiving. When FEDEX becomes an internet stock, you better get a load of shorts delivered to you special delivery -g-

To: Arik T.G. who wrote (3919)	1/24/1999 11:26:00 AM
From: bobby beara	Respond to of 5676

Arik, so this correction wave 4, according to your count should be the buying opportunity of the century -g- Was looking at the Nasdaq Chart and I believe you can draw an inverted H&S pattern with the base at the April topp and across the late july top (around the 31st) This neckline depending if you angle it slightly was retested on the blow-out bottom of 12/4 which began final wave 5up. It bottomed at 1924, projects to 2491, we reached 2474, close enough. I believe this current correction will find support at the 1924 bottom to fill the gaps created on the run-up and give the bulls hope that this is just a correction so they can pile in more money for the March/April top. bb

To: Arik T.G. who wrote (3919)	1/24/1999 10:19:00 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 5676

<<.... Intermediate 3- 12/94 to present ........... Minor 1- 12/94 to 2/96 ........... Minor 2- 2/96 to 7/96 ........... Minor 3- 7/96 to 7/98 .................Minute 1 - 7/24/96 to 2/18/97 (a clear count inside this one) .................Minute 2 - 2/19/97 to 4/11/97 .................Minute 3 - 4/14/97 to 7/10/97 Cumulative breadth top on the chart you linked was reaced on Minute 3 of Minor 3 of Intermediate 3. .................Minute 4 - 10/7/97 to 10/27/97 .................Minute 5 - 10/28/97 to 7/17/98 (extended) .................Minuette 1 - 10/28/97 to 12/5/97 .................Minuette 2 - 12/5/97 to 1/12/98 .................Minuette 3 - 1/12/98 to 4/6/98 (NYSE A/D top) .................Minuette 4 - 4/7/98 to 6/15/98 .................Minuette 5 - 6/16/98 to 7/17/98 ........... Minor 4- 7/20/98 to 10/8/98 ........... Minor 5- 10/8/98 to present (Jan 8th?). >> January 11th maybe the start of that Intermediate 4 ? But there are so many counts around sellnow.net that a beginner like me has problem finding the good one. When I observe the many EWT practioners various counts, I conclude that this theory is far from perfect science. When one theorician is right with his count, the guy next door is wrong. Then a third one comes out with a new count that turns out to be the best one for a while. After a couple of waves, the first guy is again right...and so it goes. I am sure at some point EWT guys make a lot of money. But a lot of the time they are wrong on their count. Makes me wonder if it is worth mastering EWT. So I am still watching and learning. CC