Take this for what it's worth, but I find it to be very accurate
when it makes sense and it does right now. The last move up
appears to be a 4 of wave 3 on the daily. If that's right we
still have to finish 5 of 3. A bigger wave 4 and an entire wave 5
yet. Then we can try to figure out what's next.
Anyway the oscillators etc seem to jive with this only being
wave 3 still on the daily
Posted by cwa82675 on 18th of Aug 2011 at 11:18 pm
thanks for posting the chart john. that is my preferred
count as well. If that count is correct, the highs we made
yesterday will be the 50% retracement of the abc after the 5 down
has completed. using that calculation we would bottom at
1060
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SPX Get Wave Count on Daily
Posted by johnc on 18th of Aug 2011 at 04:52 pm
Take this for what it's worth, but I find it to be very accurate when it makes sense and it does right now. The last move up appears to be a 4 of wave 3 on the daily. If that's right we still have to finish 5 of 3. A bigger wave 4 and an entire wave 5 yet. Then we can try to figure out what's next. Anyway the oscillators etc seem to jive with this only being wave 3 still on the daily
thanks for posting the chart
Posted by cwa82675 on 18th of Aug 2011 at 11:18 pm
thanks for posting the chart john. that is my preferred count as well. If that count is correct, the highs we made yesterday will be the 50% retracement of the abc after the 5 down has completed. using that calculation we would bottom at 1060