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Thanks
Don. Time will tell.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Jimmy
<FONT face=Tahoma
size=2>-----Original Message-----From: Don Ewers
[mailto:dbewers@xxxxxxxxxxxxx]Sent: Tuesday, March 06, 2001 6:10
PMTo: Real TradersSubject: Fw: [RT] Re: NDX question/
Nasdaq answerJimmy,As a follow-up on the NASDAQ
charts I posted after the 3-01-01 close (andbefore the open 3-02-01) I had
promised to update the 6/4 ma channels andregression points that would
signal a buy signal . I speculated that we mayget a rise off the 3-1-01
lows that will need to be evaluated whether as towhether it is just a
subminor wave 4 rally of minor wave 5 down, of majorwave 5 down (meaning
one more drop may happen) or whether we rally fromthere and the MOB is
never reached. Still no clues yet but here are the ma/regression points
for the next few days. Keep in mind a buy signal; wouldbe a close above
either the Blue ma channel (or regression channel) thenthe taking
out of the high of that bar the following day. The red ma channelthen
becomes the stop out point. If a sub-minor 4 as discussed above itstill
could be a fake out and a lower low follows, so use any other toolsyou
have that would tell you which. I will take the signal and be stopped ifit
is wrong and reenter on any subsequent signal.I am also attaching
updated charts through 03-06-01. So far everythingtracking as
planned."Originally these were
posted"
"Blue"
"Red"Date
6/4 ma channel 6/4 ma channel
Regress.
Signal3/2/01
2353
2258
2282none3/5/01
2327
2227
2250none3/6/01
2292
2195
2222none3/7/01
2264
2164
2190?New ones
are:3/8/01
2249
2148
21703/9/01
2232
2143
2144So no signals yet.don ewers----- Original Message
-----From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>To:
<realtraders@xxxxxxxxxxxxxxx>Sent: Friday, March 02, 2001 6:00
AMSubject: Re: [RT] Re: NDX question/ Nasdaq answer>
Jimmy.> I went back to an old NASDAQ composite chart that is tracking
well, so Iam> reposting it and have added some commentary in this
leg down which might> complete the move. The second chart is a blowup
of the first to show the> "final action area" that may
unfold.>> First notice the major wave 4 retracement (blue circle
July 2000) stopped> exactly at a .618 retracement of major wave 2 (blue
circle March 2000) to> major wave 3 (blue circle May 2000). Also notice
it had an ABC structure> which I prefer to see) as sign we have
something working here.>> From there we started out with what
has turned out to be an "extended wave> 5" down which the MOB off the
previous major wave 3 (blue circle May 2000)> caught well in price but
not in time (black vertical bars on that MOB),> another sign perhaps
that this was going to be an extended wave 5 (a>
grinder).>> Minor wave 4 of major wave 5 (4:5) gave off a
"fooler" buy signal buy> (January 2001 "January effect") breaking the
6/4 ma channels, but "it was> antimatter at the time" that is was
possibly only a minor wave 4 of major> wave 5 (since no "good" minor
wave 4 had shown itself in this extended> movement) not a breakout
(there is always one more drop isn't there for us> traders no matter
what the commodity?).>> We are next potentially heading down to
the next MOB off of the minor wave3> (early January 2001) of major
5 (3:5) which ends in the 1918 to 1822 area> and the timing marks are
3/7/01 to 3/30/01. Since this has been such an> extended move I have
even thrown in the possibility we may get a subminor> wave 4 rally of
minor 5 of big Wave 5 (blue circle). The 3/1/01 lowpossibly> was
the end of subminor 3 of minor 5 of major 5 (3:5:5)perhaps?>>
Anything can happen from here and one needs to be careful about trying
to> get too finite, but this all "bears" watching since the count prior
tothis> has tracked well. We could head down there in a hurry
(washout) or buying> comes in and we don't quite get there. Selling
"some" puts on ones youdon't> really mind owning, for the "real"
long haul might make some sense because> they all do not bottom on a
single day normally.>> The 6/4 ma channels might be a clue on
the blow up chart and I am listing> the levels below for as many days
as the offset show and will update if> things continue to track. Keep
in mind you are looking for a close abovethe> blue upper ma
channel, then the take out of the high of that bar. At that> point the
red ma channel becomes the stop out point. You also have the> option if
the signal occurs to wait hopefully for a retracement whichwould>
narrow your stop to the red 6/4 ma channel line. Or using the upper>
regression channel as the signal if there is a close above it and a
takeof> the high of that bar the following day, a bit more
"aggressive" approach.> Lastly remember they never make it easy, so as
mentioned above this couldbe> the last "fooler" a subminor 4 of
minor wave 5 of major 5. If stopped out> don't forget to take the "next
signal" also as long as this MOB areaappears> to be holding. I will
take both since there is no way of telling.>>
Date
Blue 6/4 ma Channel Red 6/4 ma
channel Regression> channel>
3/2/01
2353
2258> 2282>
3/5/01
2327
2227> 2250>
3/6/01
2292
2195> 2222>
3/7/01
2264
2164> 2190>> We could get a very tradable rally out of
here, and as always with EW the> question becomes is this 5 wave
sequence the end or just the end of bigwave> 3 on the weekly and
after a rally, (if it comes) there is another leg down> or "shoe" to
drop so to speak (maybe into August as some have suggested),> assuming
the economy does not recover or the perception of one at least,or>
a double bottom?>> I hope this helps someone, good luck and good
trading,> don ewers>>> ----- Original Message
-----> From: "Jimmy" <jsnowden@xxxxxxxxx>> To:
"Realtraders" <realtraders@xxxxxxxxxxxxxxx>> Sent: Tuesday,
February 27, 2001 11:13 AM> Subject: [RT] Re: NDX
question>>> > Recent posts didn't see much upside to
the rally. What I see on the NDX> > chart leads me to think we
have a better chance of a nice tradableupside> > move than the
continuation of the decline.> >> > Do any of the Elliott
Wave technicians see this or is anothersignificant> > down move
pretty much needed?> >> >> >
JimmyTo
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