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Jeff's count looks quite viable to me. First, alternation is a guideline,
not an immutable rule. Secondly, the lack of alternation is in a relatively
minor degree of the overall trend, and the next higher degree is in the
process of forming alternation between (2) and (4) as Jeff has it labeled.
More importantly, no one KNOWS whether a given count is correct until after
the fact. Elliott is a super methodology that at times can give a trader a
very useful assessment of the probabilities of future market movement. Jeff
generously shares his interpretations on various markets quite often and I
have found his work to be quite accurate and rigorously derived from an
Elliott perspective.
Regards,
Tom Alexander
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> From: Adrian Pitt <apitt@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: MKT - Elliott Wave: S&P500 and Hang Seng Index
> Date: Saturday, May 30, 1998 3:55 AM
>
> Jeff,
>
> Hate to disppoint you, but your wave count on the S&P is wrong and
> will eventually have to be relabelled. How do I know this?
> Easy....there is no alternation between waves 2 and 4...they are both
> labelled as Flats.
>
> Adrian Pitt
> http://www.macquarie.com.au/menu/mnu32.htm
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