re: reply to ultra This is excellent stuff. I have a couple of...

re: reply to ultra This is excellent stuff. I have a couple of thoughts and as you say price action will clarify the count.

Even though many wave theorists suggest to only look at the counts in the stocks I tend to look at general market count especially when playing with the larger stocks. For instance if the S&P is in an ending diagonal as Wave c of C of the ABC Wave 2 up from March 12 this would suggest that Jaysee's interpretation of a Wave 4 leading into a Wave 5 down is more probable. As CBA would likely fall if the S&P does.

Overall, this means that at the moment I would count Ultra's wave 1-2-3 of Wave a of 2 as the a-b-c wave 2 (which given both your analysis would be wrong). Of course the beauty of the theory is that we can detect error to save the situation relatively quickly.

Time will tell.

noip
Position - short (21.98 would be nice!)