Replies to post #4046 on MDA - Market Direction Analysis (MDA)

[John R. Haley]

Augie, your wave 3 is shorter than wave 1. I don't think that's allowed under the Elliot Convention Code of Ethics.

Elliot's Rule states that Wave 3 cannot be the shortest wave. So Augies count is OK on that basis.


Best to all,

JRH

[augieboo]

COMP has its right shoulder! Sure, it's still a few points
low, but it's WELL within tolerances. (It's off by only 0.56%.)

MAX PAIN: Volume on QQQ 25 calls today is 5300+, vs ~200 for
puts. This should tend to reign things in no?
http://quote.cboe.com/QuoteTable.asp?TICKER=qqq&ALL=0

NDX is 1050, (5% above M-Pain), and overbought in all
intraday time-frames except the 30-minute, where it
currently has a stochastic of 78. I'm thinking a foray
into USPIX might be in order here. Thoughts?




MDA Thread #board-1320
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Trading Info #board-1220
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