The New CS Board

[dindindon]

04/15/14 an overlap on long-term-and-short-term wave Fibonacci cluster

>> 03/24/14 12:48:24 PM
>> I am not an E-wave advocator, use it to exchange ideas

>> 03/06/14
>>There is no easy way to know which wave set is dominating,
>> usually an overlap in a long term/short term cluster gives a glue.





Now, We have an overlap on long term and short term Fibonacci cluster. (1)(2)

(1) short term cluster
On 04/04, SPX marked an intraday high 1897.28. This value is close enough to the projection made on 02/12 , 1903.59. (based on local/near term wave projection http://forexrainbow.com/images/85205427314277595081.jpg )

(2) long term cluster
wave set 3 @ 1.618/1896.50 in the table (right side) produces the closet match to 1897.26, and it is a "good" (a subjective term) ratio.


I did not label the full wave hierarchy intentionally, this is due to there are technically meaningful debates among the E-wavers


Is the TOP behind behind us?
requires confirmation, such as to see a lower high, 50 SMA crosses below 200 SMA ... etc

E-wavers can be divided into two groups roughly, one is in favor of 1-2-3-4-5 ( or i-ii-iii-iv-v), currently in sub 4 ( or sub iv) of 3 (or iii). that means there are bullish waves to be followed (this is a very brief outline)
The other group is in favor of W-X-Y (or A-B-C). Two E-wavers give both bullish (1-2-3-4-5) and bearish (A-B-C) count.

chart sources:(randomly listed, no particular order, no bias)

 
 (1) http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98864278 
 (2) http://stockcharts.com/public/1269446/tenpp 
 (3) http://marketweeklyupdate.com/2014/02/09/02092014-market-update/ 
      (latest free access) 
 (4) http://jobjas.files.wordpress.com/2014/04/16.jpg 
      (web http://jobjas.wordpress.com/ ) 
 (5) http://static.safehaven.com/authors/calissano/32870_i_large.png 
      (article http://www.safehaven.com/article/32870/spx-weekly-technical-and-elliott-wave-analysis ) 
      (web http://www.safehaven.com/author/607/thewavetrading )