first, i have to admit - i was wrong about the overall elliott wave counting structure(traditional). But who got it right (even up to this moment)? btw, overall bullish counts are wrong, imho.
when i posted yesterday ""market not topped yet", i meant the overall bear market rally from Mar 2009 is not finished yet. not the previously thought of the corrective push toward 1220.
the wave down from 1220 to 1010 ONLY is a corrective wave.
it's a textbook case i just found out last couple of days.
This final push usually will "fail" and not passing 1220, but still
possible in theory because in structure, it's a wave level above 1220.
that's why we see ndx and so many stocks passing Apr 26's top.
did anyone solve this ndx puzzle yet?
and don't you think the retracement toward 1220 is too high and stays there for too long?
Grand crash structure still valid, just postponed and need to wait
after this final push.
i know there are very few or no real elliott waver here, but the message should be clear. some people in email contact with me during yesterday's market hours already knew the bulk of what i was saying and the correction of yesterday was it before the final push for the next degree of structure of elliott wave.
Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.