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--- In realtraders@xxxx, DLCRL@xxxx wrote:
> I am curious as to whether the Elliot wave Folks are Still of a mind that we
> are in for a failed fifth wave in the Spoos ?
"Still"?
I can't imagine how anyone could use Elliott Wave to count
this as a "failed" fifth. Maybe a corrective decline in
a larger corrective rally (see chart, Alt.), but how would
you count 5 down from 965?
FWIW, from and EW perspective, it's hard to see how the market
could keep following the Sep-Dec. 1974 pattern even though it's been
very similar in percentage price moves and time off
the July low (so far). The SPX decline from 965 will be nearly equal time wise
to the Nov-Dec. 1974 decline tomorrow. The DJI will pay it's respects
to 1974 in both price and time if it hits and holds 7480 tomorrow.
Not a prediction <VBG>, but it'd be cool. The 70's were fun.
BW
>
> Dale
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