Elliot wave theory on the Nasdaq

  1. 9,485 Posts.
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    Please correct me if i'm wrong ! but are we witnessing the 3rd leg down using Elliot wave thingy ?
    If so doesnt the theory hold that its generally only 3 legs in any direction ? and only very occasionally 4 ?
    Looks the timing of 2 months per leg approx is also a sign .
    Sorry about the crap below i was hoping to post the chart , see below .
    cheers ge

    Chart: Basic - Moving Average - Technical Analysis - IntraDay - Detailed
    NAS/NMS COMPSITE (NasdaqSC:^IXIC) - Trade: N/A

    Range: 1d | 5d | 3m | 6m | 1y | 2y | 5y | max Type: Bar | Line | Cdl Scale: Linear | Log Size: M | L

    Compare: ^IXIC vs. S&P Nasdaq Dow

    Last Trade
    5:16pm · 1,357.82 Change
    -45.98 (-3.28%) Prev Cls
    1,403.80 Open
    1,395.37 Volume
    Day's Range
    1,356.03 - 1,396.25 Bid
    N/A Ask
    N/A P/E
    N/A Mkt Cap
    N/A Avg Vol
    52-wk Range
    1,375.53 - 2,181.05 Bid Size
    N/A Ask Size
    N/A P/S
    N/A Div/Shr
    N/A Div Date
    1y Target Est
    N/A EPS (ttm)
    N/A EPS Est
    N/A PEG
    N/A Yield
    N/A Ex-Div
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