Thought it best to go back to using my own thread (as I seem to be rabbiting on worse than ever) and allow WPPers to use the new thread to discuss WPP related matters without my ramblings interfering !
Interesting that the US controllers closed the DOW @ 10215 (2 points lower than the close of 10217 on 12/10 and again on 13/10). Indeed, I believe that many market protagonists find closing levels more reliable than intradays...consequently using that discipline (and lowering the arbitary wave threshold from +/- 01.50% to +/- 01.40%) paints a slightly different picture of the DOW decline since it recovered from 10001/10012 (intraday/close) on 20/04 to close at 10706 on 28/07.
Using closing levels, DOW is now currently embarking on a fifth wave Down having dropped back for 60 days via the sequence 10706:10537:10686:10397:10683:10378:10569:10217:10414:10215. The four preceeding Down waves are showing an escalating pattern measuring (01.58%), (02.70%), (02.86%) and (03.33%).
This does appear to be a much more revealing set of data !
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