Running Flat

UPDATE 12:28pm EDT: Quite frankly, what really bugged me about the wave count was the fact that yesterday’s push up very clearly counts as motive wave. However, on a larger degree all evidence points towards this being a third wave down. I think the updated wave count accounts for that:

The consolidation we probably painted is known as ‘running flat’ in EWT – please see psalm 48:1-40 in our bible. Bear in mind that all this is a bit premature as counting on smaller degrees is a bit adventurous. Usually the small degrees become more clear as the larger degree progresses.

If we turn around right here and rally up – yet again – then something else might be going on altogether.

UPDATE 1:22pm EDT: Updated long RLs for you rats to nibble on:

If 882 doesn’t hold the next stop is at 874 – again, Zero subscribers: Don’t do anything until you see the Zero Lite swing above its zero mark.

UPDATE 2:43pm EDT: Really not much else to say, ladies and leeches – ride it out unless you see the Zero breach is mark. However, the tape is thin now and thus susceptible to manipulation towards the EOD, so tighten your stop above in that you get a clean exit and don’t have to chase if the proverbial excrement hits the fan.

May I also point out that my Cubes channel has been spot on so far? Who’s your daddy?

BTW, some bulls are sending me angry emails. That’s usually a bearish sign – loving it

This entry was posted on Wednesday, May 13th, 2009 at 12:35 pm and is filed under Elliott Wave Theory, Intraday Update. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.