Sart, what do you think of Doe? - page 3
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Let's look at it a little differently.
Dow jones industrial average
The classic (vertical account) suggests an end to the move down to 7,000. There is not much left to go.
Then we can expect a move out of the money into securities (gold is down).
That's what I mean.
But how gently it takes out all the markets.
It's a big lay-up.
It hasn't finished yet, hee hee.
Looks like.
Kolya Morzhov is knocking on the door to the classics.
Last July I received an email from Preckter which led me to this forecast for the Dow:
at the time (I stress - this was before the crisis) it was very difficult to believe in such a forecast... even given the classic correctness of the markup, I thought this scenario was unlikely...
but it's not hard to believe now... :)
Wow! I haven't followed Prechter for a long time, but I didn't expect such accuracy. Well if so, then apparently a killer C wave is now developing, i.e. a five starting from the Dow's absolute historic high. And it's still a long way off from the full formation of the pentagon... Although in the global zigzag scenario there should also be a five.
Of course, I don't invite only Sart to the discussion. Here are the weeks of the Dow. Where do you think the Dow is now?
Here is my amateurish analysis. Consider that the last major wave of global growth ended with an absolute high in October 2007 (14197.7), and then a global correction took place - very likely in the form of a deep zigzag, as it did in 1929. I am interested in the first wave of this ZZ, i.e. A. I have the impression that this A has not yet completed, hee hee.
Keeping in mind the short-term and medium-term trading (let's leave the global forecasts to Preckter and other analysts of a similar scale) and taking
absolute maximum mentioned by you as the first significant extremum I got such maximally probable picture by V.T.E:
It turns out that the 5th red wave is currently developing, or rather such a stage of it as 5(1-2-3).
Often and densely the fifth wave is equal to the first wave in size - this gives an estimate of the magnitude of a possible further decline of this index.
In my opinion, one has to be careful with opening long-term short positions, because a correction of the whole red five could come at any time.
Hi Sart, good to hear from you. Your red triplet looks more like a correction than an impulse. I have a different layout, but I'm afraid to post it or I'll get egged...
Hi Sart, good to hear from you. Your red triple looks more like a correction than an impulse. I have a different layout, but I'm afraid to post it or I'll get egged...
As Karl Marx used to say: "Go your own way and don't listen to what people say". In simple terms: the dog barks, the caravan moves.
But the truest words that C. Marx said hung all over the wall in our university:
"The greatest achievements are the result of small but continuous efforts."
You see, I've been slacking off on the classics.
"Something about your red three looks quite like a correction, not an impulse" - There are plenty of deep corrections in such a deep impulse.
Of course, there are other ways of marking it. Now I'm looking and seeing, the other end for the red 4th wave.
But on the whole, having in mind the most likely wavelength ratios in terms of V.T.E., in my opinion,
the given picture is the most preferable.