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S&P 500
5,482.87
(
0.09%
)
US TECH 100
19,304.80
(
0.47%
)
Dow Jones
39,164.06
(
0.09%
)
Brent Oil
85.55
(
0.15%
)
Bitcoin
62,044.74
(
0.70%
)
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techcharter

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techcharter

Re: None

Thursday, 10/30/2008 9:27:38 PM

Thursday, October 30, 2008 9:27:38 PM

Post# of 51804
NDX wave ii up.

My ewave count for the NDX is wave 3 of 3 began at the 2000 point level in August '08. I don't believe it has ended, only experiencing a smaller degree wave 2 in a very extended wave.

What I'm going to look for is structure. A zigzag or double zigzag would greatly favor this bounce from last week's lows as a smaller degree wave 2 since the larger degree wave 2 (July lows to Aug highs) was a zigzag. A flat would not guarantee either smaller wave 2 or larger wave 4. A triangle would definitely signal a larger wave 4. What makes this so challenging is a zigzag is the first sub-wave of flats and triangles.
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