Short Term Trading Member Forum

[koke]

Chuck - Could also be......

A completed a-b-c to mark the 2nd wave of Wave 3.

-On SPX, LOD Friday could be "A" of ABC.
-HOD yesterday could be "B" of ABC
-LOD today could be "C" with C equal to 50% of A.

(Additionally, this ABC retrace would be just a tiny bit larger than a 61.8% retrace of the big move up from Sep 28th).

-On NDX, it's about the same except C is in between 50% and 61.8% of A. This scenario would look better with one more down move to the 1412-1413 level, making it 0.618 of A....(and, 1414 would be a 0.618 of the move up from Sep 28th...).

Things change too fast and hard to keep up-to-date but you can see my latest NDX "Short-Term" here:

http://web.tampabay.rr.com/koke/

As far as cycles go, I would expect a low to be made between Thursday and Monday. That would be 12-14 days from the Sep 28th low....??? So that wouldn't jive with the above count, but then again the cycles haven't been "apparent" as far as their "expected" cyclic are concerned....

Comments?

/koke