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Hi Lenny,
Of course this is only my opinion, but I think you should start your
count at the high of your Wave 2, which is in fact the B of the ABC
issued from the all time high. As you know, C has always an internal
5-wave count.
Regards
Carl
--- In realtraders@xxxx, rosow@xxxx wrote:
> Oops forgot the chart. Here's the post again : > ) Lenny
>
> Good afternoon all,
> This is in hindsight but take a look at the rhythm of the move
down of
> Wave 3 on the NASDAQ since 07/21/00:
>
> 1) Wave 3:3 = Wave 1:3 X 2.618.
>
> 2) Wave 1:3 X 1.618 at first provided support and ultimately
resistance.
>
> 3) Wave 5:3 = Wave 1:3 X 1.618
>
> 4) Wave 5:3 = Wave 1:3 X .618
>
> Of course, as I said this is in hindsight but odds say Major Wave 4
up from
> here with a maximum target of 3042.66. What's scary is if 1619.58
doesn't
> hold before Wave 4 can develop (Wave 4's should last as long as
38.2% in time
> of Wave 3 i.e. week of 07/13/01) then I see 900 as an eventual
target which
> is Major Wave 1 x 1.618. Have a great weekend!
>
> Lenny
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