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Hello Lenny, Ben, Don, Norman...,
I recalculated the numbers, according to last 2 days development. Below you will see 3 charts of the Dow: one weekly representing 2 years of data, where I seem to see a complex correction from DJ30 all time high:
ABC-x-ABC.
Then, a 6months daily chart, taking an internal down Elliott count of the last "C", which is currently unfolding. Unlike what I stated in my previous post, I am not sure at all that this current short term upside reaction will reach 10200 points. Rather I think that we will go down immediately, exiting the triangle established by this minor wave 4. Applying then an objective for the final bottom looks easy: either multiplying by a factor of 0.61 to 1 the distance between beginning of wave1 and end of wave3, and adding it to the end of wave 4 - this gives us roughly 8850 to 8500 as the end of wave5 of "Big C"; or using the triangle boundaries to calculate the objective of a down breakout (at approximately 9500), which also gives us 8850 or below.
Also, if you look at the weekly chart, you see a ugly diamond pattern; I said ugly because it has already been broken twice: upside and downside. BUT, it you look at the weekly chart using only closing line (3rd chart below) the Diamond pattern is much more nice, and has only been broken to the downside. The CLOSING price objective here is also around 8500-8800 using the boundaries of this pattern.
And the next cluster dates are around April 18-20...so...
Carl
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