Replies to post #45600 on Short Term Trading Member Forum

[techcharter]

Chuck, July 2010

The possibility of an ED starting from August 2010 dawned on me this morning. I see this as a consistent theme for DAX and US equity markets. The FTSE and CAC would be more of a triangle or complex XYZ wave count out of the March 2009 lows. With so much QE 2 distoring the markets, e-wave rules may be violated.

Considering post ending diagonal behavior, the FTSE and CAC sould have been collapsing these past 3 weeks instead of choppy trading. I'll have to agree with you on one more rally. Need to disprove the "Sell in May, and go away". It's too obvious that fundamentals in Europe should cause a market meltdown NOW! Yup tease the traders for another 1-2 months. I'll be looking for the bears vs bulls indicator for a divergence with the markets.

I'm holding garage sales while people are in a buying mood.

[kenl]

Or possibly only finished wave 2 of ED. Volume is not there for any significant downside.

Volume will be the tell.

[kenl]

One other possibility is that wave 1 of the ED started in Nov of 2010. And we just finished wave 4. The QQQ shows this nicely.

[frankp3]

ED down from high possibly done at LOD.
I would count it as 2c or Bc. In either case we should see a 5er up to new highs. Im thinking it should run for the rest of the year but I aint been studying real hard.....GL

frank