|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML><HEAD>
<META content=text/html;charset=Windows-1252 http-equiv=Content-Type><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<STYLE></STYLE>
<META content='"MSHTML 5.00.0910.1309"' name=GENERATOR></HEAD>
<BODY bgColor=#ffffff>
<DIV>Note for the Dow the Bull Traps</DIV>
<DIV>-Tripple Top Bearish Pattern(IMT)</DIV>
<DIV>-Reversal Head+Shoulders Bearish(IMT)</DIV>
<DIV>-Reversal Head+Shoulders Bullish(ST)</DIV>
<DIV>-Rising Wedge in a DownTrend(VST)</DIV>
<DIV>-Unfinished A,B,C Correction(IMT)</DIV>
<DIV>-A bound to fail Pull Back after Fallout from 97-98 IMT UpTrend
Channel(ST)</DIV>
<DIV> (Channel's Rising Wedge in an UpTrend)</DIV>
<DIV>-SMA daily 50-200 and 150-200 Dead Crossings(ST+IMT)</DIV>
<DIV> ( SMA's 50 and 150 currently resides below SMA200
) </DIV>
<DIV>
<DIV>-SMA monthly 10-30 Dead Crossing(ST+IMT)</DIV>
<DIV> ( SMA 10 currently resides below SMA 30 )</DIV>
<DIV>-Divergences Through "DOW Theory"(ST+IMT)</DIV>
<DIV>-Divergences on CMO,RSI etc on daily,weekly+monthly basis(VST+ST+IMT)</DIV>
<DIV>etc. etc.</DIV>
<DIV> </DIV>
<DIV>Note too, that the at the top of the chart " circled Primary 1 "
is probably not correct, as the</DIV>
<DIV> for this chart used Historical Data was way too short, for this count to
be correct.</DIV>
<DIV>The IMT " (5) " is correct being the top of the Intermediate
Term, the minute " i, ii, iii, iv, v "</DIV>
<DIV>are correct ST impulsive waves to the downside, with the " v "
not clearly showing up, but</DIV>
<DIV>that then is due to his Win95 program missing out on a correct font(s).
</DIV>
<DIV>The minuettes a,b,c, for the Very Short Term counts are correct.</DIV>
<DIV>The Boxed " 2 " is an 'unfinished' minor wave as yet.</DIV>
<DIV> </DIV>
<DIV>The red lines on the right, with the decimal figures are retracements(in
this according</DIV>
<DIV>to the in the EWaves used Fibionacy figures for retracements percentages
and finaly</DIV>
<DIV>by a program being displayed and also very well, rounded to the top ). As
you can see</DIV>
<DIV>of not much use as any percentage could get hit. More important here, is
then to look</DIV>
<DIV>at the huge 6 months support received at the left side.</DIV>
<DIV>Also the 7400 level is a full 100% correction of the previous UpTrend
length, eg since</DIV>
<DIV>its breakout last Dec97, and as such not so very common, 50% Corrections of
a</DIV>
<DIV>Trend's Length for any UpTrend to be able to continue, let alone go Up, are
more common.</DIV>
<DIV>(or as the10,15,25,40,50,60,75% retracements are the most frequently
appearing and</DIV>
<DIV>also recorded technical corrections retracements levels, measured from the
last Top).</DIV>
<DIV>That is for the VST. For the ST a retracement measured from the Last
Top+Low should</DIV>
<DIV>be used and a 50 % tech correction would then be 8149
((9323-6975*0.5)+6975).</DIV>
<DIV>This is why the market reacted on Wave 1 as if it was to be oversold, and
has started</DIV>
<DIV>a counter up wave 2. </DIV>
<DIV>This Wave 2 is still sort of in process, however it is also a Wave 2 in a
Downtrend, also</DIV>
<DIV>a Diagonal Triangle (or a Rising Wedge in the DownTrend).</DIV>
<DIV>From a fallout from this Diagonal Triangle, downbreaking its rising support
line, then by</DIV>
<DIV>measuring this pattern hight on the day it started developing, on 981008 a
hight H=1000</DIV>
<DIV>can be calculated (8468-7468).</DIV>
<DIV>From yesterday's signaled fallout (981112 fallout level 8885) a for the VST
future target</DIV>
<DIV>of 7885 can be calculated and creates Wave 3.</DIV>
<DIV>A further look in the future outcomes will then be decided by this level
giving support enough</DIV>
<DIV>for it to hold, or to continue with the 4 months old DownTrend.</DIV>
<DIV>A further lower level of 6800(previous minor Support&Resistance in
1997) can then provide</DIV>
<DIV>enough delay for the Price to reagain its strenght, and if that level also
doesn't hold then</DIV>
<DIV>the UpTrend since start in 1994-5 will be "50%" corrected with a
Trends' end around 5800.</DIV>
<DIV>Once this IMT correction period is over, then the three (a),(b),(c) Waves
will have been set.</DIV>
<DIV>As such the " Rounded 1 " at the top of the chart should be
read as " Rounded 5 ", and</DIV>
<DIV>this includes that for the Primary Waves an A of the A,B,C is developing,
which includes the</DIV>
<DIV>the smaller ones.</DIV>
<DIV>Note as well that an Irregular Bullish Reversal Head+Shoulders, a
broadening bottom pattern</DIV>
<DIV>formation, is now also under construction, and when the above 7800 level
will hold as support,</DIV>
<DIV>will imply a return to the former Tops High. This will well be in the next
year, but is no guarantee</DIV>
<DIV>that the former Long Term UpTrend, started in 1994-5, will be
continued.</DIV>
<DIV>The Horizontal Trade Zones, eg the double tiled horizontaly Sideways Trend
Channels with as</DIV>
<DIV>their borders 9200, 8400 and 7600 are the for the moment Support &
Resistance levels.</DIV>
<DIV>Any breach of these levels will force to do Channeling again.</DIV>
<DIV> </DIV>
<DIV><FONT size=2>
<DIV><FONT size=3>Regards,</FONT></DIV>
<DIV><FONT size=3>Ton Maas</FONT></FONT> </DIV></DIV>
<DIV> </DIV></DIV>
<DIV> </DIV>
<DIV>
<DIV align=left><IMG align=baseline
src="cid:002401be0e9f$37340ea0$LocalHost@xxxxx";> </DIV>
<DIV> </DIV>
<DIV></DIV><IMG align=baseline src="cid:002601be0e9f$37340ea0$LocalHost@xxxxx";>
<DIV> </DIV>
<DIV></DIV>
<DIV><FONT size=2>Chart 1 - Elliott Wave Degrees Table (Labling the Waves
Distributions)</FONT></DIV>
<DIV><FONT size=2>Chart 2 - A Triangle of which, when mirrored, a bearish
version currently was developing </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Targets for wave 2<BR>Wave 2 minimally retraces 38.2% and
mostly 61.8% or more of wave 1. It often<BR>stops at subwave 4 and more often at
subwave 2 of previous wave 1. A retrace<BR>of more than 76% is highly
suspicious, although it doesn’t break any rules yet.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Targets for wave A<BR>After a Triangle in a fifth wave, wave A
retraces to wave 2 of the Triangle<BR>of previous wave 5. When wave A is part of
a Triangle, B or 4 it often retraces<BR>38.2% of the complete previous 5 wave
(so not only the fifth of the fifth)<BR>into the territory of the previous 4th
wave. In a Zigzag it often retraces<BR>61.8% of the fifth wave.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Targets for wave B<BR>In a Zigzag wave B mostly retraces 38.2%
or 61.8% of wave A. In a Flat, it<BR>is approximately equal to wave A. In an
Expanded Flat, it usually will travel<BR>a distance of 138.2% of wave
A.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Targets for wave C<BR>Wave C minimally has a length of 61.8%
of wave A. It could be shorter in which<BR>case it normally is a failure, which
foretells an acceleration in the opposite<BR>direction.<BR>Generally wave C is
equal to wave A or travels a distance of 161.8% of wave A.<BR>Wave C often
reaches 161.8% of the length of wave A in an Expanded Flat.<BR>In a contracting
Triangle wave C often is 61.8% of wave A.</FONT> </DIV></DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV>----- Original Message -----
<DIV>From: Tommaso Galanti <<A
href="mailto:galantit@xxxxxx";>galantit@xxxxxx</A>></DIV>
<DIV>To: <<A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx</A>></DIV>
<DIV>Sent: donderdag 12 november 1998 0:44</DIV>
<DIV>Subject: Re: Question from a newcome - Fw: LET OP DOW ELWAVE</DIV></DIV>
<DIV><BR></DIV>>Ton,<BR>>would you be so kind to explain some of these
points of view?<BR>>Thanks and best regards<BR>><BR>>Tommaso
Galanti<BR>>Italy<BR>><BR>>A.J. Maas wrote:<BR>>> Find attached
an simple ELWAVE analysis chart as an example,<BR>>> that I received
today.<BR>>> I find it very effective to see the market from lots of
different angles as<BR>>> the one can then confirm the other.<BR>>....
<snip><snip> ....<BR>>> Regards,<BR>>> Ton
Maas<BR>>> ms-irb@xxxxxx </BODY></HTML>
</x-html>
Attachment Converted: "c:\eudora\attach\Re Question from a newcome - F.jpg"
Attachment Converted: "c:\eudora\attach\Re Question from a newcome - F.gif"
|