Interesting day?

Ok, everyone, GDP sucked as predicted. We have been waiting for earnings season to end, it just makes emotions ride like a wild bronco.

R, and RK, and anyone else.. I have been told about truncated 5th waves on more than one occasion. My personal experience over the years of chart reading, has given me an idea. I honestly do not Believe in Truncated 5th Waves...... Now your wondering why? My first book that I ever read on trading I got at an auction in a pile of books that I paid 50c for. I tell ya, It has gone down in history ever since as the best auction purchase I have ever made.  Fibonacci Applications and Strategies for Traders...by Robert Fischer.  this box of books also contained several other expensive and valuable books that helped me on my way to the beginnings of my trading experience's..  I studied and studied and researched what this was and that was.. you know we still do it today... but all truncated 5th waves just lead me back to Mr. Fischer, there are no truncations...WHAT!   Waves 1,3,5 are ending waves in up trends and down trends.. but corrective wave are A,B,C's or I also call them 1,2,3 .   Do you see what I wrote.. inside of a 3rd wave we have 5 waves.. and so even though we may not show that so called 4th wave move, we still had a 4th wave move  inside of the 3rd wave,  Even Prechter says to only trade 1,2,3... let 4 and 5 go.. get the meat of the potatoe not the outside skin... that was the key phrase after many yrs of fighting with 4's and 5's, sometimes there just doesn't seem to be one or both... but there is ..contrary to what we have taught ourselves or read in most of Prechter's books.  The other fasinating book that I just never have liked but the more I pick it up the more I am beginning to understand what this nut is saying...Neely... most every move is a triangle or type of triangle move, they are small, they are med. and large, and sometimes Ex.Lg.  but there are alot of triangles. So, there are beautiful Elliot patterns and there are ugly ones sorta like we just saw.. but wks, mo's, and yrs later we look back at charts and go ...OH. man, now I see that pattern...have a great Wk end..>L