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The Not So Perfect but Perfect System 13 replies
Perfect Wave - 2011-Q2 33 replies
Perfect Wave - 2010-11 29 replies
Perfect Wave - 2011-Q1 20 replies
Perfect Wave - 2010-10 35 replies
QuoteDislikedQuote from ScalperJoe:
[b]snowrider,
I am discussing the current waves with trader collegue regarding the S&P, and we have come to the following conclusion that Wave 5 of Wave 3 has completed, and the S&P is currently in Wave 4. I've also read and heard that Wave 4 of the larger pattern already occurred, however our analysis is there has not been any significant pullback to justify a completed Wave 4.
Our wave counts of the larger pattern (weekly chart):
Wave 1 from 1,075 to 1,293
Wave 2 from 1,293 to 1,159
Wave 3 from 1,159 to 1,422
Wave...
QuoteDisliked...
One question for you is that you think we are still in the wave 4 from peak of 2000? What formation will this wave 4 take?
...
QuoteDislikedQuote from ScalperJoe:
[b]Got it, thanks. However, I'm curious as to how you get the 960 target, and what is the scenario for it to occur this year?
If it breaks 1,320 then perhaps it goes flatline to around 1,250-1,290 range during mid-summer (near mid-point of 5 wave pattern which began last October), before closing out in the black for 2012.
Without some climactic event (war, lack of additional QE, hyperinflation, Euro/dollar collapse, etc), I'm not sure the market is poised break the prior two years of intrayear lows and to fall to 960....
QuoteDislikedQuote from toc:
Snowrider,
given that you have been doing the EW for sometime now, what percentage of your calls prove to be good. have never been into EW although use Fib retracements etc. at times.
QuoteDislikedQuote from ScalperJoe:
[b]snowrider,
Given the recent swings in SPX, is it safe to interpret the past five down bars as "A" and today's snap back rally as "B" of Wave 4, which may last a few more days, followed by a "C" wave back down? The way I read the current pattern, the SPX falls below its current 50 day moving average of 1,370 again, thus completing the A-B-C pattern in Wave 4.
However, I find the difficulty in EW analysis is in attempting to pinpoint the accuracy of when Wave 4 ends and when Wave 5 begins, until of course after...
Dislikedsnowrider,
the count of the "thewavetrading" since the oct. 2011 low for the S&P is more logic for me than yours:
http://imageshack.us/photo/my-images/51/ewsp124.png/
SixerIgnored
QuoteDislikedQuote from Wide Tailz:
So we all anticipate the SP500 coming down from the bear flag. This consensus makes me nervous... traders rarely agree!