MDA - Market Direction Analysis

[John R. Haley]

Augie, one problem with your EW counts is that you need to look at a bigger picture (longer term) first and you see that the big rise up to 2000 was an impulse wave. It must be followed by a corrective wave. So, the highest order waves going down from March 2000 are an ABC set.

The real question is: Are your red 1, 2 and 3 waves really A, B and C? Or is it all part of A? Or some other interpretation?

I think the A finished in October and we should be starting the third (or c) up of the B wave. But if we take out the December lows, then we are still in the b of the B wave.

If that paragraph doesn't cause you to chase your tail it's not because I am not making my point obscure enough<VBG>.

Your conclusion seems valid, even though I don't agree with your counts.

BWTHDIK?

Best to all,

JRH

Best to all,

JRH