or today was the 5th wave low, we'll see. Sometimes Mchugh
is right on and sometimes he's way off. The short term counts
can change are are difficult to say for sure. If we go down
again, there's a
gap around 1070,
so my target would be anywhere from 1070 - 1075
watch the 144 stochastics on the 15 min SPX chart, it appears to
be a good guide.
Also so does the 60 period stochastics on a 60 min SPX, they are
basically doing the same thing.
Matt, let me ask a few questions for educational purposes. A
retest of the broken triangle -- formed in wave 4 -- at the open
today was wave 2 of 5, wasn't it? Then a steep decline to a new low
was wave 3 of 5, and a high low was wave 5 of 5, wasn't it? If so,
this count is incomplete or inconsistent. What other labeling could
you suggest?
Also, how does wave 5 normally look in terms of patterns?
I am more comfortable identifying the patterns and then
reconstructing the wave structure, as wave 2, 3 and 4 look very
distinct from each other. Kind thanks to you for responding!
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
or today was the 5th
An excerpt from McHugh
Posted by matt on 28th of Jan 2010 at 03:16 pm
or today was the 5th wave low, we'll see. Sometimes Mchugh is right on and sometimes he's way off. The short term counts can change are are difficult to say for sure. If we go down again, there's a gap around 1070, so my target would be anywhere from 1070 - 1075
watch the 144 stochastics on the 15 min SPX chart, it appears to be a good guide.
Also so does the 60 period stochastics on a 60 min SPX, they are basically doing the same thing.
Matt, let me ask a
Posted by junkie on 28th of Jan 2010 at 03:32 pm
Matt, let me ask a few questions for educational purposes. A retest of the broken triangle -- formed in wave 4 -- at the open today was wave 2 of 5, wasn't it? Then a steep decline to a new low was wave 3 of 5, and a high low was wave 5 of 5, wasn't it? If so, this count is incomplete or inconsistent. What other labeling could you suggest?
Also, how does wave 5 normally look in terms of patterns?
I am more comfortable identifying the patterns and then reconstructing the wave structure, as wave 2, 3 and 4 look very distinct from each other. Kind thanks to you for responding!