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fib_1618

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Reply with quote  #1 
Time to start a new thread on this subject. The original thread can be found at:

http://forums.technicalwatch.com/tool/post/fib_1618/vpost?id=2302168

Well, so much for the triangle count idea, and now the flat count becomes the preferred consideration based on the current technical condition of the marketplace.

The current labeling seems to fit nicely if we use a 5 day RSI and a 13,21,8 Hist MACD setting as guidance, so I'll throw this one out there for any feedback or questions.

Currently, the pattern structure doesn't look fully complete, and if it does turn out to be a larger irregular flat (as opposed to a simple one), we might be looking for not only lower prices still yet to come, but the structure may turn out to be as complex as the period from the middle part to the end of November.

Fib




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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

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fib_1618

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Reply with quote  #2 
The Elliott count consideration last presented on January 12th has now met all of the guidelines of that of an "irregular flat" including the expectation of an inverted internal thrust that occurs once this same price pattern sequence has terminated.

So until proven otherwise, let's call the correctional process from the July highs as being complete in what should be labeled as Intermediate wave (2) of Primary 3. If this is indeed the case, Intermediate wave (3) lies directly ahead, and with the sentiment platform provided at the recent lows, the rest of 2008 should be a highly profitable one for the bulls.

Future updates will be provided as warranted or requested.

Fib






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Dave's LinkedIn Profile

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

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