Since I'm hampered by computer issues I have enclosed a possible
scnerio that Andrew has charted for me. DO NOT assume
Wave 4 is in place after a simple pullback on the 5 minute charts
(only an immediate reversal back up to take out today's highs would
confirm). Instead, the odds favor a more complex pattern
playing out to complete Wave 4. Lastly, a precipitous drop
would indicate that the larger Wave 5 was already in place.
Stick to your indicators and triggers and only use EW as a
guideline.
SPX 60
Posted by steve on 21st of Jul 2009 at 02:22 pm
Since I'm hampered by computer issues I have enclosed a possible scnerio that Andrew has charted for me. DO NOT assume Wave 4 is in place after a simple pullback on the 5 minute charts (only an immediate reversal back up to take out today's highs would confirm). Instead, the odds favor a more complex pattern playing out to complete Wave 4. Lastly, a precipitous drop would indicate that the larger Wave 5 was already in place. Stick to your indicators and triggers and only use EW as a guideline.
Dodger
Posted by ravun on 21st of Jul 2009 at 02:41 pm
lots of possibilities on that SIXTY (60) min chart, here is another...fwiw
Thanks Steve (and Andrew). That's
Posted by lsherrer on 21st of Jul 2009 at 02:29 pm
Thanks Steve (and Andrew). That's very helpful.
Thats a 60 min
Posted by ravun on 21st of Jul 2009 at 02:25 pm
chart btw....