As my chart shows, we are in wave Primary[C] of Cycle II.
The 5-wave Primary[C] is going up and we may be just be
starting Intermediate wave (2) to the up side. Primary[C]
could take us up well into next year. When it completes,
Cycle II will also be complete, and it will be bombs away to the
downside as we enter 5-wave Cycle III to the downside.
Like I said I'm new to trading and to EW analysis. Just
throwing this out. I may even have the waves mixed up.
Comments appreciated.
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Another bullish count.
EWT
Posted by tradequick on 27th of Aug 2010 at 02:04 pm
I'm new to EW Analysis, and I'm trying to get my bearings with all the waves within waves. Anyway this is my best guess of where we are:
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&st=2006-01-01&en=2011-01-15&id=p32834174970&a=207140150
As my chart shows, we are in wave Primary[C] of Cycle II. The 5-wave Primary[C] is going up and we may be just be starting Intermediate wave (2) to the up side. Primary[C] could take us up well into next year. When it completes, Cycle II will also be complete, and it will be bombs away to the downside as we enter 5-wave Cycle III to the downside.
Like I said I'm new to trading and to EW analysis. Just throwing this out. I may even have the waves mixed up. Comments appreciated.