Replies to post #35891 on Short Term Trading Member Forum

[Chuck703VA]

OK, I'm in for ejac......capitulation.....ooops

This looks to be heading for 1200s in the morning, but we won't know until then for sure.

g'nite all.

[Chuck703VA]

Some thoughts on where we "may" be.

These count numbers are in terms of my nine month and 21 day chart.....On the chart however I have counted it as a 12345 versus an abc so what I show as c31 below is 331 on the chart.

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=1212838,5&cmd=show,IDAY[N]&disp=e

c1 or Ca WAS 295 PTS FROM 2055 to 1761.

c3 is >678 pts from 1973 to under 1295 or 2.3 times c1 so far.


c31 was 1973 to 1606 or 367 pts

c32 was 1606 to 1773 or 167 pts 45.50%

c33 was 1773 to 1295 or 478 pts 1.3 x c31

c34 was from 1295 up to 1386 or 91 pts 19.04% on the smallish quickish side.


c5 is next wave??..... from 1386.....let's see, minus 367 is 1019 for 1=5?


Yet to be determined is whether that would be the bottom or not. That would complete three waves from 2055 Fall top. Making the C wave of Correction from the year 2000 highs an ABC. That C wave could also form as a 12345 and the current wave would be the 3 (maybe not quite done yet). If that is the case, after this is done we would still face a larger fourth wave followed by a Fifth wave that would compare to the 295 point C1 or Ca wave sited at top from 2055 to 1761.

My guess is that we may not be to the bottom yet, but no certainty on how or when we get there. I have doctors appointment with the wife this morning so won't be back on board until after lunch unless I find a insecure router along the way.

AS to today.....I am uncertain. I see three waves down from yesterdays high. I am on edlert. If this opening pop overlaps first wave we could be in extended third wave of first wave down. Just a musing. I am changing to a trailing stop at the open if the open doesn't stop me out here.