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Attached is a AGET S&P chart showing one of the fib expansions I mentioned
below (I see that level held all of about 8 hours in the night session).
Five waves are in now on the S&P chart so the pattern for the moment is
complete and now it should seek out a price target. If one looks at the
internal count of this wave 5, the current minor wave 3 of wave 5 is
unconvincing. A quick check of the 5/17 oscillator (very bottom of the
chart) it indicats the current lows are more likely the minor 3 (depth of
the oscillator is deeper on the minor 5 than for the minor 3). If so, Ben's,
BobR ect rally when it starts could be the real minor wave 4 of wave 5 that
will preceed the next minor wave 5 of wave 5 down?
In June/July I posted a similar chart to this one with the same MOB (Make
or Break) target levels. At that time they did not look reasonable as
targets, but now we are within 100 points of them?
It will be interesting to see if this is where we are headed ultimately?
don ewers
----- Original Message -----
From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, September 09, 2001 9:16 PM
Subject: Re: [RT] 1929 Comparisons
> No idea on timing here but some old fashion fibonacci expansions from
> multiple time frames, daily, 60min 15min and 5min all cluster (confluence)
> around 1080 to 1078, so my best estimate is a bounce from there, maybe
Ben's
> rally mentioned earlier?
> don ewers
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