Zeev's Turnips Patch-No Politics (ZEEV)

[SI_Shack]

always find it interesting to find people feeling that
each up move has to have 5 waves.(If that is what you are
saying)

I certainly don't think that Larry. In fact 3 wave moves are far more common since we spend most of our time in corrective waves where 3 is generally the rule. However there are certain times when 5 waves are the rule. One of them is for 'C' waves which is almost certainly what we have out of the March low here (the brother wave to the October launch).

The bottom line is that if the impulse out of that March low was complete, we would have come off the top far stronger in a fresh move down IMO. We have pretty much gone sideways which is very indicative of 4th waves which lends credibilty to the idea of a 5th.

Its really basic TA, a sideways move at the top of a large up move is generally bullish. I let my stops do the thinking beyond that.