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« QE2 Explained - The Music Video | Main | With 3D a Bust, TV Gets Smart »

Thursday, December 30, 2010

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DG

DG, on the :5 from July 2009 to Jan 2010, yes, I understand the problem. On the :5 since July 2010, much clearer: 1 went to Aug, 2 went to end of Aug, 3 went to Sp1228, then 4 went sideways, and we are now in 5.

Posted by: yelnick | Monday, January 03, 2011 at 08:30 AM

I still don't see the :5 in there. In real-time (and still do), I saw initial waves up from the July low as a :3. Look at the overlap of the price movement from the initial thrust upward to 1099, which would have to be your wave-i of 1 and the decline from 1120 to 1088, which would have to be your wave-iv of 1. That kind of overlap rules it out as a :5.

yelnick

DG, it only becomes an impulse as a Terminal since 2 and 4 overlap. Does Neely allow a Terminal in a wave 1 position? EWI does, although they are rare: a leading diagonal. STU has it as a leading diagonal.

yelnick

Waver, good catch! The Naz100 may now diverge from the other indices. The tech boom is on!

Mamma Boom Boom

People in the 'know' have said that this market will eventually take out CNBC. It appears to be getting closer, according to Nielson.

Hockthefarm

Ms Boom Boom:

I thought it was "I never met a drunk woman that I didn't like".

H

DG

Yelnick,

No, that kind of formation isn't allowed in NeoWave in that position. I tend to agree with Neely that the weakness implied by a Diagonal Triangle is best suited to the end of a formation.

Paul

The problems with the folks at EWI, is that they keep using (or misusing) the same indicators to aid in market predictions. Somewhere in "At the Crest of the Tidal Wave" Prechter claimed mutual fund cash levels being at record lows. And that was in '95. Here they are claiming the cash levels being at record lows again. Never mind that the Transports, Industrials, and Small caps have all been making new highs. They choose to ignore that info and just focus on technicals that look "bearish".

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