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More likely this w.5 will subdivide further as the momentum and time both
suggest more to downside. 1800 appears to me to be a minimum target. Since
all of my breadth models are strongly confirming the declines in both the
NASDAQ and the s&p, I would not expect a significant rally until the middle
of next week which fits with my own projections for a turn between February
27 and March 1.
Earl
----- Original Message -----
From: <carl.vanhaesendonck@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, February 23, 2001 2:45 AM
Subject: [RT] NASDAQ Waves Count
> 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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>
>
>
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>
>
>
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