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Very nicely done....
but the daily counts can't be "right".....that 4th wave is just so long in
both time and price retracement...
I don't think it can "qualify" as #4.
The weekly projection of an A-B-C is perfect for a sideways, trading range
market.
> -----Original Message-----
> From: Don Ewers [mailto:dbewers@xxxxxxxxxxxxx]
> Sent: Sunday, August 25, 2002 10:50 AM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] Elliott wave count
>
>
> BW,
> Quite the contrary, a low PTI (below 35) is an indication the any wave 5
> will be a double bottom (or top) at the worst and a failed 5th wave at the
> best (meaning the wave 5 never occurs). In the case since the wave 3 was
> down and the wave 4 was up, so it is currently saying any wave 5 down,
> should it materialize, will "currently" not project wave 5 making
> a new low
> (in this 5 wave pattern) and may just keep rallying up utimately. So not
> bearish, actually bullish.
>
> The PTI (Profit Taking Index) is a proprietary indicator that aids in
> determining the probability of a wave 5, by measuring the wave 4
> correction
> (it compares the Buying/Selling momentum in Wave 3 with the Buying/Selling
> momentum in Wave 4). Basically it is an algorithm that "in a number"
> measures whether the wave 4 normal in price and time in relation to the
> previous wave 3. If it is not normal, one needs to be suspicious
> of what is
> mentioned above (double bottom or top or a failed 5th wave), as well as a
> possible wave count change (the 1-2-3 becomes A-B-C) and a new
> 1-2-3 starts
> from the previous end of wave 3).
>
> It has been thoroughly tested by AGET (they have had the indicator since
> 1993 at least) and I have found it to be one of the best tools in
> analyzing
> any 300 bar count and measing a wave 4 to determine the probability of a
> wave 5. If you think of any move as a three wave affair (ignore
> the smaller
> wave 1 and wave 2, just think of it as two thrusts in one
> direction, with a
> correction in between. The only statistic I havewhich was from
> 1993 said 21
> to 26% of the time the 2nd thrust fails to take out the high (or
> low) of the
> first thrust. The PTI is a tool that warns you that you may be in one of
> those instances. The other stat I have is 94% of all wave 4's
> will pull back
> to zero (or within 10% of the wave 3's 3/35 oscillator height).
> If the wave
> 4's 5/35 oscillator drops below 1.4 of the height, this will
> also send the
> PTI lower.
>
> Attached are the 60min (measuring count from 5-17-02 which is
> only wave 3 on
> the daily) and daily charts (measuring the count from 3-19-02 high) and a
> weekly. Both are saying the same thing with the low PTI's. On the 60min
> (in long term count) the rally also past the red wave 4 channels, another
> warning this it is not a normal wave 4. Note the 5/35 and 10/70
> oscillators
> (long term count) have both gone past the 1.40, saying they have "lost
> control". We may correct this rally up, however AGET is giving hint's it
> may have futher to go ultimately?
>
> No PTI on a weekly since it is showing 5 waves in (PTI only
> appear between a
> wave 3 and a wave 4). There is some question on the count there
> because the
> wave 5's 5/35 oscillator is "bigger" than the wave 3's. This
> could mean the
> count could expand again (wave 5 becomes wave 3 and we are in wave 4 now)?
> If that count change occurs a PTI would appear, so jury out there.
>
> Hope this helps and sorry about the long explanation.
> don ewers
>
> ----- Original Message -----
> From: "tradewynne" <tradewynne@xxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, August 23, 2002 12:36 PM
> Subject: Re: [RT] Elliott wave count
>
>
> > >My PTI cash is also saying this is not a normal wave 4 with a PTI
> > >below 34 of 26? Careful bears for the moment?
> > > don ewers
> >
> > Is the PTI an indicator? What's its basis? Anyone coded
> > and tested it? What's the current weekly and hourly "PTI"?
> > Are they bullish too? Why / when would you ignore *your*
> > clearly very bearish EW count based on the PTI?
> >
> > Thanks,
> >
> > BW
> >
> > PS: You bulls be careful too now....
> >
> >
> >
> > --- In realtraders@xxxx, "Don Ewers" <dbewers@xxxx> wrote:
> > > Tend to agree Earl, something else might be "up". My PTI cash is
> > also
> > > saying this is not a normal wave 4 with a PTI below 34 of 26?
> > Careful bears
> > > for the moment?
> > > don ewers
> > >
> > > ----- Original Message -----
> > > From: "Earl Adamy" <eadamy@xxxx>
> > > To: <realtraders@xxxx>
> > > Sent: Thursday, August 22, 2002 11:00 AM
> > > Subject: Re: [RT] Elliott wave count
> > >
> > >
> > > > Advanced Get EOD, September EMini, Daily chart in regular count
> > (close to
> > > > shifting to long count) shows closing PTI for Wednesday at 26.
> > > >
> > > > Earl
> > > >
> > > > ----- Original Message -----
> > > > From: "rashid subtain" <vze24c5m@xxxx>
> > > > To: <realtraders@xxxx>
> > > > Sent: Wednesday, August 21, 2002 11:13 AM
> > > > Subject: Re: [RT] Elliott wave count
> > > >
> > > >
> > > > Hi Earl,
> > > > My PTI count shows 66.what software are u using.Thanks for the
> > info
> > > > Rashid
> > > > ----- Original Message -----
> > > > From: Earl Adamy
> > > > To: realtraders@xxxx
> > > > Sent: Wednesday, August 21, 2002 8:50 AM
> > > > Subject: Re: [RT] Elliott wave count
> > > >
> > > >
> > > > Here's your W.4, however the low PTI of 29 suggests any W.5,
> > should it
> > > > occur
> > > > (I suspect that the W.3 decline was terminal because of the
> > extreme fib
> > > > extensions in all indexes), will not reach new lows. I expect
> > that the
> > > > bear
> > > > market rally will continue higher before the next major leg
> > down.
> > > >
> > > > Earl
> > > >
> > > > ----- Original Message -----
> > > > From: "rashid subtain" <vze24c5m@xxxx>
> > > > To: <realtraders@xxxx>
> > > > Sent: Tuesday, August 20, 2002 9:39 PM
> > > > Subject: [RT] Elliott wave count
> > > >
> > > >
> > > > Hi group,
> > > > Some elliott wave counter can tell me if the ESu2, 4th wave has
> > ended
> > > and
> > > > the fifth wave is about to start.And can go down about 80 point.
> > > > Thanks
> > > > Rashid
>
>
>
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