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Dennis,
Catching up on e-mail -- Nice work with the cycles and trend line. With a
trend up or down, cycles make it easy to see the 1-2-3-4-5 main or (in
E-terms) impulse wave and the a-b-c three step correction. The subjective
part is usually in interpreting the corrections. Complex cyclic data can
produce long running corrections ( as can loss of momentum and change of
trend). Elliot allowed for some of this with his rule of alternation,
i.e., if one move or correction was simple, the next will be
complex. Re-stated--If cycles are in phase during one move or correction,
they'll probably be out of phase in the next. Not bad for purely empirical
observation. Nothing's ever that simple and people have been elaborating
on the sequence and internal structure of corrective waves ever
since. That's where I part company.
Thanks for the gif.
Charles Marchand
At 01:24 PM 11/3/00 -0800, you wrote:
>I don't use EW myself. Too subjective for my taste. But it seems to work
>well for some people. So, the engineer in me wanted to see if there is
>any logical explanation for the phenomenon. Here's what I came up with.
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