RE: Accidentally19 Oct 2018 09:25
f) I wld not say this is a third drop?? We are in a correction so it is a progressive movement. All we have done is enter a phase of correction & after last week we had a phase of consolidation followed by further drops but it is not a second drop as such as we are currently at *higher levels* than those of last Thurs....
All we did y’day was simply undo the past week's rises thus the shorts squashed the longs once more but yday’s drop in all fairness has been observed almost once a month when QT takes place and was nowhere as extensive as last week's imo
g) I dont recall saying I am predicting this as a EW5. May I ask where I said that? If anything, I do not think we have commenced wave 5 yet. My thoughts currently are that we are in Wave 4 where applicable and that before we get the deepest correction of them all, we have yet to enter wave 5 and thus to see higher highs. This is my reasoning also for the fact this is simply wave 4 which is a corrective wave. As with EWT, only time will tell/confirm when we can do a retrospective wave count...
Tbh, it's been the longest bull market ever that most have forgotten what a fall, dip, retracement, drop, correction looks like that they begin to panic and exaggerate abt crashes and blahblahblah on any slight pullback:)
h) I disagree with any of the US indices being a sensible p/e currently;) Study the main stocks within the main indices such as NQ and Dow & you will see the respective indices are not a true reflection of their individual components……cracks beginning to show already in some major stocks such as Apple, Giggle, Netflix, Tesla etc. See recent charts re techs:)
i) FTSE was never coupled with the Dow or Dax? Im not certain what you mean by the fact they have been decoupled etc. Were they ever coupled, lol??!:)
j) Personally, I dont think one can apply EWT to everything so I wld be cautious in its application to all of the indices/market as a whole.Instead I wld apply individually and even then it is very subjective...In fact incredibly so whether on a micro or even macro basis...
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