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Greetings Joe:
Apologize....I sent the mail to the wrong person.. Regards.
Have a good one
Jeff Harteam
Hong Kong
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To: Steve Carton <scarton1@xxxxxxxx>
Subject: Re: [RT] Re: NASDAQ Wave Counts Updates
From: Jeffrey Harteam <jharteam@xxxxxxxxxxxxxx>
Date: Fri, 09 Feb 2001 00:06:05 +0800
References: <3A82AF5C.810FAA06@xxxxxxxxxxxxxx> <027501c091e2$fdfa7560$c998fed8@xxxxxxxxx>
Greetings Steve:
I like your enquiries very much. I was going to put some comments on my
"Preferred Counts" charts which could have answered some of your enquiries. But
on second thought, I deleted them as I was hoping to see if I can get any
feedback from the list. My answers are stated below. Thanks for the response
and regards.
Have a good one
Jeff Harteam
Hong Kong
Steve Carton wrote:
> Nice work on the Elliot counts. I wondered about a couple things maybe you
> could help me with that I saw in your counts?
>
> 1. Is it okay to have a wave 4 that is smaller then the wave 2 of the same
> degree?
I can see what you are driving at...The answer is yes if wave 2 is a complex
corrective pattern.
> 2. Is it okay to have a wave 4 that is smaller than the wave 4 of one lesser
> degree?
I have seen it happened before but I don't usually prefer the market resolves
itself that way. When we have an wave 3 extension at hand, IMHO, I usually
incorporate the possibility of having a wave 4 smaller than the wave 4 of one
lesser degree. Again, I personally do not prefer such resolution occurs.
>
>
> 3. Is okay if wave 2 and 4 do not display alternation in form?
YES! Some members have inquired/argued about this point in the past. The rule of
alternation is one of the most important rules in Elliott Wave, in my humble
opinion. But again, the market(s) does NOT have to follow this rule at all.
Again, I have seen this happen before.
>
>
> 4. Are triangles suppossed to be always B's or 4's?
No, I do not believe in this notion. Time after time, I have seen wave 2 as a
triangle and wave 4 resolutes itself into a simple ABC or an irregular ABC or a
ABCDE bull/bear flags or rectangle.
Now back to what I have left out on my preferred wave count charts: I am
anticipating that the subsequent price movements of the NASDAQ will be one of a
complex corrective pattern. I HOPE I can see the wave 4 will resolve itself
into a triangle, as you have mentioned, or other kinds of complex corrective
pattern that can satisfy the rule of alternation. And the low in January will
not be taken out from this down move.
>
>
> ----- Original Message -----
> From: Jeffrey Harteam <jharteam@xxxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, February 08, 2001 9:38 AM
> Subject: [RT] Re: NASDAQ Wave Counts Updates
>
> > Greetings Traders:
> >
> > Here are the current wave counts of the NASDAQ. Take care and regards.
> >
> > Have a good one
> > Jeff Harteam
> > Hong Kong
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxx
> >
> >
> >
>
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