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Thanks Michael
Appreciate your analysis and the various alternatives you might read into
one of these charts.
I've never spent much time with Elliot Waves, mainly because of all of the
various interpretations I've seen. 10 people looking at the same chart can
come up with 10 different scenarios or analysis.
Now I'm not saying this is wrong, and I know that whenever I look at a
chart, my analysis may or may not agree with anybody else's.
This just reinforces my belief that charting is an art not a science, IMHO.
Granted, there are several great artists out there, but I'm not one of them.
That's the reason we primarily use charts to give us an idea of where we're
at in a move as opposed to using them to make actual trades.
Just my opinion
Guy
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of michael arnoldi
> Sent: Sunday, September 20, 1998 3:03 AM
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Finally a Signal!
>
>
> where do i think we are:
> using elliot wave anaysis: corrections are a 3 wave affair A B C,
> bear markets are of impulse in nature (5,3,5,3,5 wave counts)- for A & C
> and (3 wave counts) - for B. (there are minor & minuette waves within
> these of course)
>
> the jury is still not out yet whether we will have a bear market in
> full, or a bear trend. ie. a 5 wave major decline or just an ABC.
>
> which ever it may turn out to be, we have so far completed (or about to
> complete) wave 4 (counter trend rally) and wave 5 to the downside just
> lies ahead. this move will complete the fist leg of this decline-
> ie either A (of ABC) or wave 1 (of 5 of A).
> the following counter trend rally might tell the full story as it
> unfolds.
> note: i am no expert in e-wave but have used it in conjuction with
> regular technical analysis.
> mike arnoldi
>
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