Short Term Trading Member Forum

[RCKS]

Trend1
I don't think you can know yet.
Pokersam will argue that the correction is over, his wave 2 up and a wave 3 down as just gotten underway.

He may be right but I think there is a decent chance this is just a corrective move down with more up to follow once its complete.
If my view is correct I should be labeling with letters, as they are used for corrections. When this drop completes it would be an A wave and to follow would be a B wave up and that would be followed by a 5 wave C down.

http://siliconinvestor.advfn.com/readmsg.aspx?msgid=26266130

Henry (MCHJC) is just the opposite of Pokersam and has a more bullish view almost always, where as Pokersam remains bearish.

Henry has us having completed the correction at the March '09 lows, Pokersam has that low as only a wave 1 down of possibly a C wave. In his view the 2001 drop that ended in 2003 was an A wave and the rise to the 2007 highs was a B wave.

Bottomline Trend1, I am not the best person to seek answers from on e-wave. Pokersam and Henry are far better and even Snootmagruder has clearly immersed himself in E-wave and may be most helpful in your search for e-wave answers