tag:blogger.com,1999:blog-4878316162397365683.post7569864966810791102..comments2023-11-06T06:01:49.605-05:00Comments on Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals: Probably Small Short Term Rally, Then More Declines; June 18, 2009Unknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4878316162397365683.post-40089922730852929942009-06-22T13:43:02.155-04:002009-06-22T13:43:02.155-04:00Wave 3 can be shorter than wave 1 as long as the 5...Wave 3 can be shorter than wave 1 as long as the 5th wave is shorter than wave 3. The bottom line is that wave 3 cannot be the shortest wave. So I would not get too hung up on predicting wave 3's length or bottom because wave 3's can go as far as they want to go. <br /><br />I'm not sure what the rule says on the top of my head, but I have not heard of analyzing reliably with percentage points only. The focus should be on true value which is on points. Focus on the point length, not the percentage points. That's my opinion, but I will look up that question in the Prechter's EWP book when I get a chance and let you know what I find.<br /><br />By target for the S&P to start to bottom is at 450. Yes, that's not a type, my ultimate target is at least 450, but possibly much lower.Toddhttps://www.blogger.com/profile/13808483934573587351noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-15220967554613147462009-06-21T23:02:16.792-04:002009-06-21T23:02:16.792-04:00Do you see P3 as a percent decline or point declin...Do you see P3 as a percent decline or point decline? I have heard conflicting Elliott Wave opinions that P3 must be more in term of dow or s&p points down than P1 and other say it only has to be more in terms of percent decline which would make a big difference in the overall outcome. Do you know where we can find this information in Elliott Wave Rules?Anonymousnoreply@blogger.com