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Dale,
The earlier failed 5th calls were because of low PTI's on both the the SPC
60min and daily charts. That continues to be the case.
Attached is a 60min SP02Z chart I posted to another list last night. I am
using my own count down following the ABC rally into the 965 High.
It would appear we may see some sort of rally in here as we may have
completed minor wave m.3 (counting down from the 905 high) or minor wave
m.3:3 since prices are at a 1.618 expansion of wave m.1 from the wave m.2
high @905.50 (numbers in red).
Once this rally is over the SP's could take out the July lows (774) and go
at a minimum to a 1.618 expansion or 767 (possibly lower to a 2.618
expansion or 669?).
The "alternative" bullish count is this whole down move is part of an even
bigger ABC pattern, shown in blue (the prior ABC up was wave A and we are
completing the B leg now and a monster rally is about to take place in a
wave C). I give this senario very low odds at this point.
This would be the failed 5th senario the low PTI's in AGET has been showing.
An interesting point currently is whetherthe start of m.4 or 4:3 or a:C, all
would favor a long initially if the current low holds, meaning with each
variation it still tells one what to look for at the moment (again assuming
the low yesterday holds).
don ewers
----- Original Message -----
From: <DLCRL@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, September 24, 2002 4:53 PM
Subject: [RT] Elliot Wave Counters
> 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 ?
>
> Dale
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Attachment:
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