Thanks
Don. Actually, in early March I was looking at looking at a larger
timeframe and McHugh?s March 9 Phi turn date as being point 5 that got me long
March 9. Looks like the green objective line that is realized. On
Friday near the close I flipped short because we?d gotten so close to the
objective (I quick called it Friday as today demonstrates). Once
the topping is complete (and today?s move looked very ending diagonalish to
me) this top becomes a point 5 with Jan 2008 as point 1. That gives an
incredibly lower objective (see the second chart).
Which gets us
back to the next apparent Wolfewave with much larger time and price
implications. Note that the objective we reached recently through the
bullish WW above now becomes point 5 of the new wave. The fly in the
ointment is that point 5 above can overshoot so it can still go higher before
the dive. And EW would allow this thing to piddle around for quite a
while before embarking lower. Nevertheless, the weight of EW ?celebrity?
analysts believe a wave 5 down is forthcoming (Prechter and Neely
notably).
From: realtraders@yahoogroups.com
[mailto:realtraders@yahoogroups.com] On Behalf Of Don
Ewers
Sent: Tuesday, March 17, 2009 7:52 PM
To:
realtraders@yahoogroups.com
Subject: [RT]
Wolfe
Here is a different Wolfe
wave pattern that appeared back a week ago at the bottom I was
watching. It is off Interactive Brokers 30min charting so I can't label
the 1-2-3-4-5, but look at the downward wedge, a clear 1-2-3-4-5 and spring
starting. Prices did retreat but stopped at the lower TL (retreat not shown),
then rocketed moving well above the target line . . . telling
us something . . . . this reaction was more than a
Wolfe?