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

To: Claude Cormier who wrote (37638)	2/24/1999 1:04:00 AM
From: Death Sphincter	Read Replies (1) \| Respond to of 94695

yes the direction is interesting....BUT in my opinion the count is labeled incorrectly.....without getting into great detail they have labeled the moves up from Fall 1997 (in blue)as 1,2,3, and 4 happening, with 5 to come...... but 4 is overlapping down into 1....in order for this to happen you should be in an ending diagonal, and an ending diagonal is a 5th wave impulse that is composed of 5 abc'c ....NOT 5ers........they also have the up move in Sept 98 labeled as wave 1...I ripped that thing inside out when it was happenning, trying every poosible combo, including a rare leading diagonal, and could not make it an impulse...I am still convinced that it was a complex abc....... now if they want to make this into a 5 wave move up from Fall of 1997 I could be led to believe that it is a large ending diagonal and what they have labeled as 1,2,3 is actually A,B,C with C up from Oct 8th being a triple zigzag or something complex like that.....which would line us up for D down (an abc) taking it down to -8600 or even the Oct lows....to be followed by E up to new highs and then MAJOR dumpage on the other hand, i'm telling you nothing new, you can make a bullish scenario out of the whole thing that 'short term' NOW..takes the DOW to 10,000 before a big correction for now I am betting lightly on a pullback to 8500-8600ish and getting ready to bet a bit more heavily some of the generals...MSFT particularly, are positioned for a bounce here and they have heavy influence on the indices.....should we continue to run up to and thru the highs, and the big guys like MSFT,CSCO,INTC are rebounding but the A/D is negative then I will view that as negative for the rally...incidently, speaking of INTC i view it's trading range from Fall of 1997 thru end of summer 1998 as a triangle and that triangle projected the next move up for INTC to about 140...h-m-m-m.....now those type of triangles are only suppose to live in Wave 4 well, enough babbling carl