Replies to post #148065 on Zeev's Turnips Patch-No Politics (ZEEV)

[Alex G]

i concur... this is definitely a wave 4, well of course, unless it's a wave 5... 4 or 5,... i reserve the right to change that call at a moment's notice... yes, it's obvious, the markets will go up,, unless they go down

I expected a day like we had... of course you did, thanks for such timely info

[market_watcher]

I think that the wave 4 correction ended at yesterday's lows. Today's action started off looking like it could be the B up, and it still could, but it also looks like we'll gap up to another new high tomorrow, which makes me think this is wave 5.

One new high on a B up is not too uncommon, but two would be a little out of the ordinary in my understanding.

Plus, Wednesday's downdraft was a 50% retrace of the move from 1333 to 1375, at the 1354 low, which is a perfect ABC-type retrace level.

If we look at the move from 1333 to 1375 as iii, then v should be less than 42 points from the 1354 low.