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Gaetano, Here is my symmetry analysis for the corn chart that you sent me. In short, we have a Wave D buy signal.
Specifics: The 'larger wave structure", Wave 1 high is set in the beginning of August at 274, and Wave 2 low bottoms on 8/11/97 at 248. This decline measures 26 pts +/-20% or 5.2 pts. Thus a symmetrical match of this larger wave structure will occur when corn declines 20.8 to 31.2 pts from its high.
Now for the smaller wave structure: The Wave A high occurred in the middle of August at 274 and the Wave B low was on 8/18/97 at 260. This decline measures 14 points +/-2.8 pts or 11.2 - 16.8. Wave C high occurred on 8/21/97 at 278. Subsequently, corn has declined to a level of 266 or 12 points from the high. This 12 point decline falls within Wave A-B's decline, thus we have a symmetrical MATCH and an early entry buy signal. An exact match will occur if corn declines to the 264 level. Failure of this wave structure will occur if corn declines below the 261 level, so this is where I would place my protective stop.
At present, I believe corn is bottoming and a rally should begin shortly. If I am correct, corn will rally higher than the 278 high and possible reach the 290 level before we again have another symmetrical decline, possibly in the same magnitude as the original Wave A-B decline, or 14 pts. If corn declines greater than 14 pts +2.8 leeway or 16.8 pts from the new high, look for corn to find a symmetrical bottom based on the larger Wave 1-2 wave structure. I am getting a little bit ahead of myself in this explanation so I will stop here so I don't confuse you anymore. Suffice it to say, if we get a rally, higher than the 278 level, send me a new chart and I will reevaluate the analysis in more complete detail.
Hope this helps... "Let's go Corn" John Boggio PS If you want to send this info the RT'ers group that is OK.
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% Gaetano Arnaldo Evangelista - BARI (Italy) E-mail: ageitaly@xxxxxx URL: http://www.geocities.com/wallstreet/8492 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
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