Did we just start C in wave 4? It feels like we are headed up here, short term. It seems volumes are up confirming this change?

Corey give us another EW post!! Can’t get enough!!!

I have things I’d love to say about Prechter’s “Dow 400″ projection but I prefer to keep the blog civil I’ve read his report.

I believe the best analysis is done not blinded by bias.

That’s another alternate count we’re holding as well – that of the “this is B wave down of a larger complex corrective” which ends in a C wave rally (but not beyond 1,000) before plunging into the final 5.

You’re right about staying out of corrective waves. I posted a while ago that we were in Wave 4 up but it’s been absolutely hideous for bulls & bears. Let’s get back to an impulse wave – which would be down – so that things could go a little smoothly.

I agree that a squeeze will drive faster upside prices than hopeful bulls – it always seems to in bear markets.

I don’t know – perhaps it’s a ’social mood’ thing. Inaugurations aren’t magical but people feel that they are. People feel bad now and see a new guy taking the Oval Office desk will make them feel better so perhaps they buy on that feeling. I don’t know.

I need to write that in a post.

In sum, I’ve been focused on the 30 Dow Stocks for the life of my career, so I know them more intimately and understand the pricing (for better or worse, I’ve always been used to the Dow Index numbers)

Trading in $5 per 1 point moves is more intuitive for me than the ES which trades in $12.50 per quarter moves.
I like to know dollar figures so it’s for me far more intuitive to do so with @YM.

Liquidity isn’t so much an issue for me as I trade in relatively small size.

Too many people are focused on the ES which leaves breathing room in the @YM (too many hard-core professionals trading ES and there seem to be more ‘tricks’ played in ES than YM)

That’s just a few off the top of my head. I’d love to hear others’ thoughts.

First, who has control in a bear market? It must be the bears who are downward swings. The bulls are probably on sidelines.

Then, all bears are not alike. There are some bears who are a lot bigger in size than others. They are the ones who have the resources to cause the rallies after they are flushed with cash, after having covered their shorts. They cause a rally to create another selling opportunity, and hopefully trapping some bulls along the way.

For the most part, most bulls can’t be very active in a bear market.

Anon, is that the bottom? And btw, the biggest rallies in the bear markets are initiated by the bears themselves. At levels we hear today for the bottom (400-600 range), I think there will be value investor buyers.

Of course, you have Prechter who sees the end of the bear market at 400 on the Dow (yes, the Dow, not S&P!), but I’m not sure if there will be many survivors on the planet Earth by then.