A case for hanging tough

[TS Hennessy]

I recently did a post about drawing a line to aid the assessment for
where the 5th of a 5th or C would be ending.

You draw it from the beginning of the wave 1 of a 5th or C wave. Then
it continues through the RTB 4th wave's C at the ending of the subwave B of C
of that RTB 4th.

Just a text descrition is a bit confusing, I know.

There is a description, example and a few posts of discussion about it here:
http://newelliottwaverule.org/forums/thr...tml#pid957

and here:
http://newelliottwaverule.org/forums/thr...tml#pid963


Now I just wanted to post a pic which shows the technique for a much
higher degree which has some possible significance for how deep or
shallow the final part of the RTB 4th wave which began in 2000 is
likely to be.

This wave down I refer to is Cycle wave [c] of Supercycle [4].

The line I am refering to specifically in this pic is the one beginning
at [b] which is the 2007 high.

This is the start of [c] so it is then drawn through the ending of the
(b) of (4) occurring at the April 2010 high.

   

All this shows is a possible intersection point. It is just some food for thought.

I believe that this has better boding than you may be exposed to in
some other camps. Not that it will be pleasant, but perhaps not as
dire as some predict.

The main points are,
1) Don't sell the farm just yet.
2) Don't forget about [5]!!
3) Happy trading.

[theoryman]

(11-21-2010 11:19 PM)TS Hennessy Wrote:  I recently did a post about drawing a line to aid the assessment for
where the 5th of a 5th or C would be ending.

You draw it from the beginning of the wave 1 of a 5th or C wave. Then
it continues through the RTB 4th wave's C at the ending of the subwave B of C
of that RTB 4th.

Just a text descrition is a bit confusing, I know.

Tom, is this correct?
And if so, does this help anyone with the idea?

   

The key points for one line are the black zero and then the end of the purple RTB.

For the other line, it's just shift everything down a degree, so this time it's the purple zero and the end of the blue RTB.

cheers theory

[TS Hennessy]

If that does not help then the discussion posts will.

If not then questions may be posted I guess.

The main point is that the sky is not falling just yet, my friend.

[finster869]

(11-21-2010 11:19 PM)TS Hennessy Wrote:  I recently did a post about drawing a line to aid the assessment for
where the 5th of a 5th or C would be ending.

You draw it from the beginning of the wave 1 of a 5th or C wave. Then
it continues through the RTB 4th wave's C at the ending of the subwave B of C
of that RTB 4th.

Just a text descrition is a bit confusing, I know.

There is a description, example and a few posts of discussion about it here:
http://newelliottwaverule.org/forums/thr...tml#pid957

and here:
http://newelliottwaverule.org/forums/thr...tml#pid963


Now I just wanted to post a pic which shows the technique for a much
higher degree which has some possible significance for how deep or
shallow the final part of the RTB 4th wave which began in 2000 is
likely to be.

This wave down I refer to is Cycle wave [c] of Supercycle [4].

The line I am refering to specifically in this pic is the one beginning
at [b] which is the 2007 high.

This is the start of [c] so it is then drawn through the ending of the
(b) of (4) occurring at the April 2010 high.



All this shows is a possible intersection point. It is just some food for thought.

I believe that this has better boding than you may be exposed to in
some other camps. Not that it will be pleasant, but perhaps not as
dire as some predict.

The main points are,
1) Don't sell the farm just yet.
2) Don't forget about [5]!!
3) Happy trading.

Tom- That is a big, big help. Thanks for further explaining.

[TS Hennessy]

I updated the pic in the original post of this thread.

Now it has the relevant symbols added for where the line is drawn
as well as notations.

I also added the poll at the top.

[RayH]

(11-27-2010 12:58 PM)TS Hennessy Wrote:  I updated the pic in the original post of this thread.

Now it has the relevant symbols added for where the line is drawn
as well as notations.

I also added the poll at the top.

Nice example of what Tom is describing.
S&P correction between April 26th and July 6th 2010. Hope my counting is correct!
   

[finster869]

Looks good, Ray. Where do you have the current count?

[RayH]

(01-28-2011 06:15 AM)finster869 Wrote:  Looks good, Ray. Where do you have the current count?

Hi Finster,

Every day I find something new on this website that revolutionizes my perspective of market action. I am appreciative of Tom and the rest of the community for sharing their views and insights.
I normally trade FTSE100 but yesterday Tom threw a spanner in my works that is making me doubt my count.

I will have a look at the S&P and see what I can come up with then post in the S&P thread. One thing I will say is that the FTSE and S&P seem to me to be in different stages of long term trends. FTSE has been correcting since 5th wave peak in 1999 but S&P looks like it is in final stages of wave 4.

Ray

[TS Hennessy]

(01-28-2011 08:35 AM)RayH Wrote:  

(01-28-2011 06:15 AM)finster869 Wrote:  Looks good, Ray. Where do you have the current count?

Hi Finster,

Every day I find something new on this website that revolutionizes my perspective of market action. I am appreciative of Tom and the rest of the community for sharing their views and insights.
I normally trade FTSE100 but yesterday Tom threw a spanner in my works that is making me doubt my count.

I will have a look at the S&P and see what I can come up with then post in the S&P thread. One thing I will say is that the FTSE and S&P seem to me to be in different stages of long term trends. FTSE has been correcting since 5th wave peak in 1999 but S&P looks like it is in final stages of wave 4.

Ray

Heh Ray,

As of today's new high on the FTSE 100 I guess that was a gold plated
spanner, huh?

BTW - as for the stages of correlated corrections the FTSE has been
correcting since July 1998. It is advanced in the beginning but has
harmonized since then to a great extent except in a fractal way which
makes the FTSE still advanced by one degree yet mimic the rest of the
market.

You still must chart each alone for that very reason. All correlations
work until they don't.

[RayH]

(02-09-2011 12:59 AM)TS Hennessy Wrote:  Heh Ray,

As of today's new high on the FTSE 100 I guess that was a gold plated
spanner, huh?

BTW - as for the stages of correlated corrections the FTSE has been
correcting since July 1998. It is advanced in the beginning but has
harmonized since then to a great extent except in a fractal way which
makes the FTSE still advanced by one degree yet mimic the rest of the
market.

You still must chart each alone for that very reason. All correlations
work until they don't.

Hi Tom,

Gold plated indeed! And more to come (on the FTSE) as well I think.

My problem is that I still dont take a top-down approach when formulating my wave counts. This leads me to misinterpret the wave action as you REALLY need to know where you are in the larger scale of things.

According to my data stream the peak for FTSE was in 1999 but I have been reading on other sections of the forum that you use futures data for your counts. Is it that the futures peaked in 1998 and the high of Dec 1999 was lower? Or was the 1999 peak part of, say, an RTB?

Thanks
Ray
(p.s. Good shout on the EURGBP bottom! )