Count Clarity

A Special STU pegs us in a wave 4 descending triangle (lower tops, flat bottom), meaning the current leg d down should touch but not break the Nov21 lows (SP741, Dow7449) then bounce in a final leg e that ends lower than the Jan6 highs.   Chart here.  This leg e will SEEM like the awaited Obama Hope Rally, but it is a bear market fakeout.  After leg e ends, we have wave 5 down and THEN the big wave (2) which so many seem to be waiting for (after all, it came in the Spring of 1930 ...).  The leg e fakeout should suck the bullishness out of the market, setting up the rally after the big drop.    This all should unfold slower than the herd seems to expect. 

Comments

[MT]

RANKING ELLIOTT BLOGSPHERE:

1): "We are in wave 2 of final wave 5"

2): "We are still in wave 4" (also Prechter's triangle)

Prechter's triangle to complete w4 is doing well. For me that station is to crowded.
So I expect the unexpected and that is still the flat.

http://i366.photobucket.com/albums/oo106/mtcharts/Flatortriangle.jpg

[Glenn Loser Neely]

I am a loser! Plase help me!

Glenn Loser Neely

[DG]

MT,

What formation is that A wave of yours? What it looks most like is a triangle, but a triangle can't come in the A wave position of a flat.

[Hank Wernicki]

What happened here :

Tuesday, October 28, 2008 >>> STU Triangle

I guess we are expanding ???

Comments ?

I can I trade this ?

[Min]

The preferred count at EWI (particularly if it's Hochner's) is the most likely to not play out. That agrees with MTs observations as well. There are other scenarios possible and not yet brought up. One of those is more likely to be the correct road map.

[Min]

Resist the force Lose. Don't go over to the dark side.