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Jerry,
As former bottom of Jan 3 has been broken, it automatically mean that
we are in a W5, which started on January 24 at 2892.
The subwaves of this W5 impulse could be as following:
W1 completed on Jan 26
W2 Jan 31
W3 Feb 14
W4 Feb 15 (have a little problem with that, because of very short
durationbut W2 was very shrot also: 3 days).
W5...yesterday
If we have a strong up-reaction today, I would say that the long term
W5 has completed.
And this would wonderfully fit with every indicator I can watch on
the charts (MACD, OBV, RSI), that are all in divergence, or even
double divergence.
Also a strong reaction today would mean a brief breakout in new lows
(yesterday), then a failure, which usually lead to strong moves in
the opposite direction.
But, if the Index continues lower today, then we are heading with the
long term "regular" objective of W5, slightly above 1800 points...
I cann't wait
Carl
-----Original Message-----
From: jerry swanson
Sent: Friday, February 23, 2001 4:06 AM
To: Carl Vanhaesendonck
Subject: RE: a note to Carl
Hi Carl:
Looks like we were both wrong with our wave counts; now, I'm lost in
the waves again. If we count from the top, we would be in the fifth
wave, having just completed a wave 4. Fifth waves are so complex
that it is hard to forecast a bottom. I would appreciate your
perspective.
best...
jerry
>Thanks Jerry, we will soon know whether this scenario confirms. If
>it does, Wave 3 could be an interesting opportunity to trade...
>
>Carl
>
>
>-----Original Message-----
>From: jerry swanson
>Sent: Saturday, February 03, 2001 2:12 AM
>To: carl.vanhaesendonck@xxxxxxxxxx
>Subject: a note to Carl
>
>Hi Carl:
>
>Awhile ago you wrote the following on the Real Trader's Forum: "I
>"believe" NDX has just completed Wave1 of a new impulse, therefore
>Wave2 "should" not retrace more than 2400-2500. Otherwise, a re-test
>of the 2200 area is my 2nd alternate."
>
>I agreed with your reading and now it seems that a wave 2 is near
completion.
>
>best....
>
>jerry
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