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Michael,
I think you are saying that this could be a 3 wave or a 5 wave correction?
If it is a 3 wave correction, then it is over and we are headed for new
highs.
If a 5 wave correction, we are just finishing the 4th wave and are headed
for the 5th wave down.
If the above is correct (?), when can one then determine it was a 3 wave
correction and we are back on track in the Bull market?
__________________________
James Wolf
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of michael arnoldi
>
> 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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