In the backlink I was looking for wave 3 or C down to continue playing out. Today's 6.36% collapse in the shares smells very 3rd wavish. Shorts should be aware that they are near a critical junction that they should NOT try to hold short through because although my primary model says its a 3 and not a C, we do have to remember that this peaked via a rising wedge and they are often if not always 3s or
Cs. So the current sell off in AMZN could easily be wave 4 with one more higher high in store.
This is what I mean when I indicate not to fall in love with your own view point (which I like to refer to as "believing too heavily in your own bullshit". My count can be wrong. I have come to grips with it and the more times I get it right, the more often I am going to remember that counting accuracy tends to come and go in people in waves, just like everything else and that an Elliottician can reduce the volatility of those waves by keeping an open mind and by staying data focused. At least that's the way it seems to work for me.
Friday, February 5, 2016
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