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Re: [RT] Wolfe



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Jim,
Is your second screen shot showing what you wanted it to (stops in Oct 2008)?
Don Ewers
 
----- Original Message -----
From: Jim Ross
Sent: Tuesday, March 17, 2009 8:25 PM
Subject: RE: [RT] Wolfe

Thanks Don.  Actually, in early March I was looking at looking at a larger timeframe and McHugh?s March 9 Phi turn date as being point 5 that got me long March 9.  Looks like the green objective line that is realized.  On Friday near the close I flipped short because we?d gotten so close to the objective (I quick called it Friday as today demonstrates).  Once the topping is complete (and today?s move looked very ending diagonalish to me) this top becomes a point 5 with Jan 2008 as point 1.  That gives an incredibly lower objective (see the second chart).

Which gets us back to the next apparent Wolfewave with much larger time and price implications.  Note that the objective we reached recently through the bullish WW above now becomes point 5 of the new wave.  The fly in the ointment is that point 5 above can overshoot so it can still go higher before the dive.  And EW would allow this thing to piddle around for quite a while before embarking lower.  Nevertheless, the weight of EW ?celebrity? analysts believe a wave 5 down is forthcoming (Prechter and Neely notably). 

From: realtraders@yahoogroups.com [mailto:realtraders@yahoogroups.com] On Behalf Of Don Ewers
Sent: Tuesday, March 17, 2009 7:52 PM
To: realtraders@yahoogroups.com
Subject: [RT] Wolfe

Jim,

Here is a different Wolfe wave pattern that appeared back a week ago at the bottom I was watching.  It is off Interactive Brokers 30min charting so I can't label the 1-2-3-4-5, but look at the downward wedge, a clear 1-2-3-4-5 and spring starting. Prices did retreat but stopped at the lower TL (retreat not shown), then rocketed moving well above the target line  . . .  telling us something . . . . this reaction was more than a Wolfe?

Don Ewers



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