interesting day ecn., page-3

Hi again Ecn

EWT calls for certain criteria to be met for a wave to complete,does it not?

Looking at Aims chart we can see that what might be construed as wave 3 and 4 are not,in fact,supported by the trend channel that should exist as plotted from 13/2/2007(lower) and 1/12/06(upper),APPROX.

Either we have had a main corrective phase completed and are starting up again

OR(the one I like)

we have only completed waves 1 and 2 and are currently on wave 3.

SAME THINGS perhaps.Both intimate wave 2 only completed.

Now forgive me if I show a total lack of understanding here as this EWT interpretation of the Aim chart was done via a crash course in EWT on the investopedia site!

A pseudo EWT qualification!!!LOL.

But the fact remains that I cannot see where wave 2 completed unless we take it to 21/05/07,and wave 3 and 4 break down through the trend channel,essentially becoming wave 2.

Now this could be fundamentals mucking us about here.If we factor in the basis for EWT which is "mass psychology" then it appears as though this breakdown(or wave 2 confirmation)could be the market coming to the realisation that the fundamentals were not "on track" so to speak,a RATIONAL market decision making process

So what we have now is a confirmed 5 wave move from 13/10/06 to 6/12/06 THEN the classic 3 wave correction to 21/5/07.

So in effect we have the first 2 waves of 5 and we are now in wave 3 of 5,not 4 waves of 5 completed with us now being in wave 5.

Imo fundamentally we are still within the sphere of rational investor thinking whereas I believe wave 5 incorporates quite an element of irrational investor behaviour.Imo 6 Billion in funds says we are still rational!!!

Im willing to learn Ecn so please correct me if Im up the back of the room jabbering to a mate and not paying attention.The white board duster always seemed to work well to knock a bit of sense into d's cranium at times;-)

d.