Short Term Trading Member Forum

[Toppcats]

Silent - Neeley is from Neowave and unless there's another Glenn Neeley, he wrote a detailed text on his version of working with e-waves. What I believe he is referencing (which McHugh also discussed on his site) is that up until this spx 'break' there have been several 'options' from e-wave perspective as to how the bear would play out. This upside break has actually eliminated the two less severe scenarios (flat/triangle formations) and places an 'A-B-C' as the likely overall form for SC-IV. Lows for this projected formation take the markets to the lowest absolute numbers with overseas markets projecting to near zero// spx to 100 - 300 //DOW to 1000-3000. Recovery from these levels should they actually ever be reached would obviously take a very long time.

Regards