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RE: CH RE: [RT] RE: Charles Nenner



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My error, I focus too much on NDX and QQQQs.  The triangles in both SPX and DJIA are not as well formed as QQQQs/NDX.  Hence, Hochberg and Prechter have arguing a zig zag wave 4 completed Jan 20 and the market is already in w5 down.

 

From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Jim Ross
Sent: Tuesday, February 03, 2009 4:08 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: CH RE: [RT] RE: Charles Nenner

 

**there will not be any crash – not this month and not next month either.

 this month will be choppy and next month the market may see a sizeable

decline to test the november lows but that will be it.**

Continued chop in February and a retest of November lows in March?  I’m intrigued as to why.

 

Traditional tech analysts would say we have a classic Edwards/Magee triangle and once the triangle breaks there will be a very directional measured move….not chop.  EWavers might say the below is not a triangle by EW definition, but if it is a 4th wave triangle by EW definition, then the next move would be a substantial drop.  The triangles are similar in all indices.  Below are QQQQs (see the red lines). 

 

 

And March?  Charles Nenner and Martin Armstrong both forecast a mid March HIGH before a resumption of the secular bear.  How do you arrive at a March test of the November lows?  And how do you get the November lows will be all there is?  Are you saying your March test will end the secular bear market? 

 

I couldn’t open your attachments, maybe they were intended to provide rationale.  Any rationale would be appreciated.

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