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Jim,
I would agree on a deeper W5 drop. If you
look carefully on the chart attached the software has two target levels
lower. These are shown in light blue as -5- , one around 500 which is the
.618 expansion of the start of W1 to W3 low, subtracted from the W4 top. The
other is the 1.0 expansion and down near 200+.
On a shorter term basis just looking at the W5,
another drop would make the pattern even better. I labeled this count in
yellow with this up move being minor w4 of wave 5, which is already at a very
high .618 retracement of the minor wave 3 of W5.
The MOB hit makes me think we will not get it
though currently. The software is generating the count, and it is
important in my mind the a fairly clear five waves down have occurred to this
point. I don't profess to be an EW expert by any means.
I adjusted the lower triangle line back to where it
should be. The line I had before was just marking out a support level
I was watching.
I added the Armstrong date as well, but as I said
it may not be tied to equities?
The Venue retrograde is from Merriman who, for
several weeks was calling out that event as "a high
signature" of being one that could cause a change in trend. See
http://www.stariq.com/MarketWeek.HTM "
Venus retrograde
last week worked every bit as impressively as its history would suggest, as
reported in ?The Ultimate Book on Stock Market Timing Vol. 3: Geocosmic
Correlations to Trading Cycles.? If a market completes a significant cycle high
or low near the time of Venus retrograde, it is not uncommon to see it reverse
and start a counter-trend move that lasts into the time period when Venus turns
direct. Venus turns direct in five weeks (April 18). The Venus direct period
also has a high historical correlation (73%) to the culmination of primary or
greater cycles within ten trading days."
Don Ewers
----- Original Message -----
Sent: Thursday, March 19, 2009 7:39
AM
Subject: RE: [RT] SPX
What a great
chart. It fits extremely well with Armstrong?s April 15 PEI which he
projects to be a ?reactionary high? (?It?s Just Time?, October 2008).
I?ve got to think about it for a while since the EW powers prefer a deeper
wave 5 (although Prechter felt it was a near tossup Monday, 2 weeks ago, and
closed all his short positions).
On
reflection, you should remove the triangle indication that encompasses the
square 3 and 4. It might be a triangle in the Edwards/Magee sense, but
it hasn?t any EW validity. That doesn?t necessarily change the validity
of the EW count. However, on page 51 of EWP ?A triangle always occurs in
a position prior to the final actionary wave in the pattern of one larger
degree, i.e., as wave four in an impulse?..? So, my criticism of the
charted EW count is that there isn?t a valid EW triangle that precedes your
wave 5 down. In practice, I have seen Hochberg and Prechter ignore this
rule (or at least not pay attention to the ?always?) time and again.
From: realtraders@yahoogroups.com
[mailto:realtraders@yahoogroups.com] On Behalf Of Don
Ewers
Sent: Wednesday, March 18, 2009 7:26 PM
To:
realtraders@yahoogroups.com
Subject: [RT]
SPX
The Advanced GET tool called
the MOB (make or break target in light blue and cyan) on the attached marked
the low well, actually hitting the black timing on the MOB only one day
off (prior MOB's also shown).
Also note the massive
divergence below the chart on the MACD and 5/35 oscillator (used to place the
Elliott wave count). Red lines are linear regression channels based on
H+L/2.
Seems like a logical place
for a bounce (or more)? Also some Astro time marks were present.
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