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Arnold Thompson wrote:
<<I do not see a clear 5 waves down in Wave 1 from Aug 7th to Aug 18th in the
Dow.. or the OEX if that is where your counting a 5th wave completion
from.>>
I missed the original message on the subject, but I'm counting the drop from
8/7 to 9/11 as wave A. 9/11 to 10/7 as wave B, and everything since as wave
C.
Within this wave C, the big question of course is whether the big drop of
last week was wave 3 of wave C, or merely wave 1 of wave C. I have no doubt
we will go down for a retest of last weeks lows. I'm inclined to believe the
bounce we are in now is wave 4 of wave C, and the inevitable move down for a
retest will be wave 5 of this C.
HOWEVER (isn't there always one of these) we "scream" down to look at those
recent lows, then we have a considerable way to go below last week. I think
the lows are in (or very close to being in) and we will continue this bull
when this simple ABC correction from 8/7 runs its course.
PJLaird
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