Short Term Trading Member Forum

[techcharter]

Maybe a multi month Wave 5 in the Dow?

The Dow's fall from the Y2K highs looks more like corrective with all the overlapping rallies and selloffs. Multi month Wave 4.

The rally that started off the Oct '02 lows is looking more like a motive wave than a corrective wave. Multi month wave 5. An within this multi month wave 5, multi week wave 4 formed through much of this year with sideways trading.

What may be happening is a nonconfirmation by the NAZ as the Dow could be setting new all time highs over the next several months. This is the Zoran Gayer wave count. Prechter's count uses the Y2K highs as the start of a multi year crash. I'm splitting the difference of them both: a truncated wave 5 rally. People are still easily swayed into "investing".