Replies to post #4253 on Short Term Trading Member Forum

[Chuck703VA]

I count this mornings opening as wave 5 of the third wave from yesterdays high.....thus if its a three wave move it should be done here and now....

The bounce since the lod though has been overlapping and looks corrective to me implying it is possibly creating wave 4 of this down move.....which if followed by an impulsive fifth wave will give us an impulsive five waver down from yesterdays hod and perhaps the start of something more.....

or....what?? If this doesn't rollover into a fifth wave down, then I think the larger ED discussed by Frank and the chart posted the other day might still be in play meaning that action from yesterday's hod was/is part of some kind of B wave of an ABC up to finish said ED....