Recent content by FreeSpirit

wave 5 is identified only after you think that wave 4 is complete. Only in reviewing the chart can you see the prior waves 1, 2, 3, and 4. Time is not a factor that I have ever heard of.

I would hazard to guess that the markets will go sort of sideways for a day or two then spike up to a top. Then will go below the feb selloff.

I would have to agree with michaelscott: the stock market is headed for more downward motion. I could be wrong, but looking at the charts, it sure looks like it now. Today was a crazy shanghai and fed backlash episode. Some "buy the dippers" were in there too. Let's see what happens tomorrow.

From what I understand regarding EW you have smaller formations within larger ones. So I guess we could look at the wave down in 2000 as a massive A Wave...though I dont think we'll be able to call that until we are pretty far into it. We've had plenty of corrections in the past couple years...

So refreshing to get an intelligent discussion of EW on ET. Regarding your chart, Landis82, it seems that if the start of this correction was an A wave consisting of 3 waves (a,b,c) then this would be the start of a "flat" correction. Flat corrections, according to the book, have a B wave...

Have you considered that the uptrend beginning in March 2003 is now a completed 5 wave impulse with the fifth wave being an ending diagonal triangle? Under this scenario it looks like the uptrend is complete for now. See my chart below. I have been studying Elliott waves for many years now...