Wave count – Nasdaq 100
May 4, 2009 at 3:40 pm 1 comment
Looking for an irregular terminal pattern C wave – $35 to $36 is inflection zone. Overlap prevents the C wave from being classified as impulsive. If correct, this count doesn’t mean that the bear market necessarily has to resume. This could merely be an A wave of a larger flat or triangle. I do have a more traditional diagonal alternate, but time proportions don’t favor that count in my eyes. Getting stopped out a few times before catching the next down wave should be viewed as operating expenses. Stop loss will keep those expenses low. Also, below I have posted an impulsive variant. Depending upon which waves are classified as “hidden threes” creates the variance. I don’t like the time dimensions of the large 2 wave on the impulsive count. However, this would come as quite a shock to a lot of people if it were the case. In a wave 2 scenario, the public would feel like; “here we go again”, which would seem reasonable should the next wave start retracing.
11:40 AM
Updated @ 12:40 PM
Entry filed under: Uncategorized. Tags: nasdaq-100, ndx-100, Prediction, QQQQ, wave count.
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