Replies to post #45533 on Short Term Trading Member Forum

[techcharter]

It's the OR

My preferred count is now Wave 4 from Feb 2011 into March 2011 lows. Wave 5 is in, or has completed wave 4, and is going to challenge Last weeks highs.

The chart pattern that makes this my preferred count over a Giant Wave 4 Flat is over the last week of so the NDX formed a triangle or another overlapping pattern where a motive wave was expected.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=ndx&time=18&startdate=1%2F4%2F1999&enddate=5%2F5%2F2011&freq=9&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9&x=0&y=0

INDU also hit the 12600 target this morning and bounced higher. TRAN has retraced about half of last week's selloff today.
NDX INDU TRAN are forming a motive wave 5 of Wave 5.
SPX did not drop as much as I estimated.
SPX and RUT are in wave 5 of Wave 5 ENDING DIAGONAL off the Feb 2011 lows.