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Adrian Pitt wrote:
> Two points. Since the Dow chart and S&P charts are almost identical,
> I am puzzled how you can only put wave counts on one and not the
> other.
>
>
I'll give you an example. The chart labeled 6bar-DJ at
http://members.sockets.net/~jsemmons
which Mr. Semmons brought to our attention has the count wrong.
Where his software placed the 1, it actually is wave B.
If anyone wants to verify here's how:
*) Jan 12, Jan 13, Jan 14...three up days- THIS is wave 1!
*) Jan 15 - that's wave "a".
*) Jan 16, Jan 20 - that's wave "b".
*) Jan 21, Jan 22, Jan 23 - that's wave "c" of wave 2.
How do we know which is which?
Take the theoretical high of wave 1 on Jan 14 on the DOW (7836.25) and
subtract the theoretical low of wave "a" (7651.66) which gives you a
difference of 184.59 points.
Now take the theoretical high of the "b" wave on Jan 20 (7908.00) and
subtract it from the theoretical low of the "c" wave on Jan 23 (7609.31)
and the difference here is 298.69 points.
Now divide 298.69 by 184.59 and your answer =1.6181!
Care to try that with any software out there or on any other index?
Besides this simple example which is actuall well known (C wave is X size
of A wave), there are countless ways in which Elliott Wave only works with
the DOW but nothing else.
Unless your wave count shows such precision math it is likely to be just a
guess.
Carlos Lourenco
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