good lord its the running of the bulls, page-94

haspete,

Thanks for the link... I've had a bit of a peruse and will dig a bit deeper later.


voltaire,

At best I've learned enough elliot wave to be dangerous!... which is part of the reason why I try not to give it much weight when I find myself counting waves.

Other analysis seems far more tradable to me... 'Wave 4' balanced 'wave 2' and then continued the uptrend... April high to July low was close to spot on double wave 2 and supported at the 3/8 retracement... the reaction from the first retest of the april high balanced in time the previous reaction from the July low... etc etc

As McLaren often states holding the 3/8 retracement is key for the circumstances of both distribution following a high and retracements within a trend... so now that we know it was a retracement it seems reasonable to me to expect a 50% to 62.5% extension of the March'09 to April'10 move. (I'll be taking notes when the spx gets to 1/4 extension at 1360 though.)