MDA - Market Direction Analysis

[augieboo]

Chart -- McClellen Oscillator: augieboo attempts Elliott again! {Cue scary music!} {g}

From the very little I know about Elliott waves, my understanding is that waves are supposed to move in groups of five and three -- five in the direction of the larger trend, then three against the larger trend, and like that, with each set broken down into similarly disposed subsets, and with each set comprising a part of the next larger super-set. (Probably wrong terminology, I know, but bare with me if you can.)

So, my "theory" (using that term very lightly) is:

1. NAMO is currently at or near the end of a little five wave down thingie.

2. This five wave down thingie is itself the third wave of a larger five wave down thingie.

3. Thus, as soon as this little five wave down thingie ends, we should see a little three wave up thingie, followed by another little five wave down thingie, thus completing the larger five wave down thingie.

Does this make sense at all?



(:



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