Take a look. It doesnt look so bad when you have Mr. Fibonacci on your side.
The Elliott Wave haunts me tonight
- Thread starter michaelscott
- Start date
If March 2005 was the end of wave 1, then June 2006 would have to be ABC. I multiplied A by 1.618 and came up with almost the exact length of C.
If this is true, then that long arm from June 2006 to February is Wave 1 and we are now in Wave 2. This means the next leg up will be massive.
In Wave 1 and Wave 2, there is usually massive put buying. We are seeing that now.
If stockcharts.com would go back about 3 or more years then I could identify more cycles and say which way I am thinking more matter of factly.
If the arm from June until February is Wave 5, then we would not have seen so many doubters of the trend.
In a Wave 2, there is going to be a lot of fear and chop. Wave 3 should be a massive move.
If this is true, then that long arm from June 2006 to February is Wave 1 and we are now in Wave 2. This means the next leg up will be massive.
In Wave 1 and Wave 2, there is usually massive put buying. We are seeing that now.
If stockcharts.com would go back about 3 or more years then I could identify more cycles and say which way I am thinking more matter of factly.
If the arm from June until February is Wave 5, then we would not have seen so many doubters of the trend.
In a Wave 2, there is going to be a lot of fear and chop. Wave 3 should be a massive move.
