I don't know if any of you are interested in the
Elliott Wave Theory, but if you take a look at
the NVEI chart, it traced out a PERFECT 5 WAVE
move from the low in early Feb. to the high of
3 days ago. I wish I had thought to take a look
at the chart before now. The "3rd Wave" that
began around Feb. 22nd, and ended March 5th is
"textbook", in that it is the longest, and
had the most volume. The "5th Wave" that
ended 3 days ago could well be the high
for the next month or so, as an "a-b-c
correction" would be TOTALLY NORMAL. It
could actually take a "flat correction"
which would not do much price damage from
here, but could take as long as all 5 waves
from the early Feb. low to the high 3 days
ago. That would "wear" on everyone's
nerves, but it would not do much damage
other than that. The "flip side" of that
would be that the "a-b-c correction" could
be very short in duration, but "could"
break considerable more from here. There
is just no way of knowing what "form"
the correction will take, but it seems
certain that we are now in "that" correction.
After the correction is over, it is reasonable
to expect a DRAMATIC UP-MOVE with incredibly
high volume accompanying it. It should be
worth the wait, if my "count" is right.
This is just my opinion. Do your own DD
and make your own trading decisions--
AND GOOD LUCK TO ALL OF YOU!!!!!!!
