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Monday, April 16, 2012

Monday, 4/16/12 update

Here's a couple more alternate possibilities based on the idea that the bull move that started on Nov 25 still needs a 5th wave to complete it:

Alternate #1 : wave 4 not done, is forming a triangle

Alternate #2 : wave 4 done at 1352.50 low of Apr 10,
wave 5 forming ending diagonal

2 comments:

  1. Hi Al,

    I have a couple of EW questions for you. I read about some guidelines or rules that seem to control length of waves.

    Wave 1= 1159 to 1267 (108 pts)
    Wave 2 normally equals 0.5 to 0.618 (Wave 1). Wave 2 = 65 points = 0.608 Wave 1
    Wave 3 = 1.618 (Wave1) = 1.618 (108) = 176 points (Spot on since I believe that Wave 3 ended @ 1378

    Wave 4 = 0.236 to 0.382 (Wave 3) = 41-67 points (Wave 4 = 38)
    Wave 5 = Wave 1 =1448
    Wave 5 = 0.618 to 0.764 (Wave3) = 1448 to 1474

    Can Wave have gone to 1422? If so then Wave 4 would stop between 1370 and 1338

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  2. Sorry it's taken so long to answer you.  Your last line is missing a number, do you mean to ask whether wave 3 could have gone to 1422?  Yes, it definitely could and that's the way I'm counting it in some of the alternates I'm tracking.  Also, we may have already seen the low of wave 4.

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