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Saturday, October 22, 2022
MTU Weekend Ed - Upswing (10/21/22 close)
Chart 1- SPX broke out of a small-degree ending wedge and is now in an upswing.
Is the potential 4 done or will it stretch in time?
It amazes me me where you get some of these wave counts from MTU.
Chart 2 and this W X Y Z is not a true part of the EW thing - its something developed to explain a lack of understanding of whats really going on. Elliott did a bit of this when he couldnt figure things out because his wave count theory (which is about price movements) didnt understanding the timing structure.
MTU - do you get some of these counts out of a pkt of Corn Flakes or from Sesame Street or something ? I have to wonder.
CHART 2 - fact - clearly now on simple visual obv there is not an a-b-c wave down from the Nov-Dec peak to the June low, as 5 waves are there (and the mkt didnt bounce in Sept after a 50% correction of the Jun-Aug rally - sliced thru it down).
There is either 5 still in progress from Dec, or alt a 5 from Nov to June making a neg wave A or 1 and the last rally is a countertrend wave B or 2. Unless some more complex wave pattern is forming.
CHART 1 - and per my above remarks if your blue 2-3 is valid then the decline since the peak cannot have more than an a-b-c correction of the same deg if the main trend is to be up, but it has. So it seem to imply the blue count is questionable.
Given the Indexes have been distorted we have to allow of that in these counts.
So lets see what happens.
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EW Theory - at the completion of 5 waves up the next down move (= A wave) made up of the wave deg size forming the 5th wave does not do an a-b-c, but 5 down. (Reverse that rule on the downside for 5 waves down after the 5th wave the deg rally is not a-b-c but 5). There's a mathematical cause of this which I worked out 18 months ago.
This wave 4 from 2009 is clear nonsense next year we will see the overlapping with the fantasy wave 1 - the 4 year cycle has another year to go 2020 - 2024. The EW guys never learned strength is not equal to impulse 2009-now is clear corrective structure. Your impulse lower is the same there is no such clear corrective structure which is not a problem to see 70% decline.
It amazes me me where you get some of these wave counts from MTU.
ReplyDeleteChart 2 and this W X Y Z is not a true part of the EW thing - its something developed to explain a lack of understanding of whats really going on. Elliott did a bit of this when he couldnt figure things out because his wave count theory (which is about price movements) didnt understanding the timing structure.
MTU - do you get some of these counts out of a pkt of Corn Flakes or from Sesame Street or something ? I have to wonder.
ReplyDeleteCHART 2 - fact - clearly now on simple visual obv there is not an a-b-c wave down from the Nov-Dec peak to the June low, as 5 waves are there (and the mkt didnt bounce in Sept after a 50% correction of the Jun-Aug rally - sliced thru it down).
There is either 5 still in progress from Dec, or alt a 5 from Nov to June making a neg wave A or 1 and the last rally is a countertrend wave B or 2. Unless some more complex wave pattern is forming.
CHART 1 - and per my above remarks if your blue 2-3 is valid then the decline since the peak cannot have more than an a-b-c correction of the same deg if the main trend is to be up, but it has. So it seem to imply the blue count is questionable.
Given the Indexes have been distorted we have to allow of that in these counts.
So lets see what happens.
----------
EW Theory - at the completion of 5 waves up the next down move (= A wave) made up of the wave deg size forming the 5th wave does not do an a-b-c, but 5 down. (Reverse that rule on the downside for 5 waves down after the 5th wave the deg rally is not a-b-c but 5). There's a mathematical cause of this which I worked out 18 months ago.
This wave 4 from 2009 is clear nonsense next year we will see the overlapping with the fantasy wave 1 - the 4 year cycle has another year to go 2020 - 2024. The EW guys never learned strength is not equal to impulse 2009-now is clear corrective structure.
DeleteYour impulse lower is the same there is no such clear corrective structure which is not a problem to see 70% decline.