[RT] thoughts on retest

["Lee Morris" <LMorris@xxxxxxxxxx>]

here 
is my problem with issue of if w5 is complete. Note on the weekly that 10/70 has 
made a new low on the last price low and that the 5/35 made a new low for w5 at 
the last low. Well I believe that that was wave 3 of 5. Note on the daily if I 
localize at the May high I get a 3 wave count. Well I can not come up 
with any way that that daily count can only have 3 waves and be at the end 
of the 5 wave weekly. Therefore, there are two options; 1) wave 5 is 
not done and this is w4 of w5, but daily PTI is very low which would 
mean that it would only retest w3. or 2) this is a big messy wave 4 
with the May highs being wA and the sept low being wB of an 
expanded flat. There are 2 arguments against this the first is that 
the 5/35 pulled to zero at the may high showing a completed wave 4 and the move 
since May realitive to the move off the March lows is 1.62 which is 
too much for a B wave and just right for a w 3 of 5 target. So assuming 
that the 2nd option is wrong and the first is the prefered count I would 
look for a retest AFTER the 10/70 on the daily pulls to zero and the 5/17 
on the weekly pulls to zero which may take another week or ten days. I do have 
trouble making any sense of what appears to be a 5 wave off the low on the 
daily. If this is a zig zag and wC is 62% of wA then the target would be 
under the red channel at 1157-1165 on the daily. any other thoughts..... 


  <FONT face=Tahoma 
  size=2>-----Original Message-----From: rosow@xxxxxxx 
  [mailto:rosow@xxxxxxx]Sent: Sunday, November 04, 2001 7:43 
  PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT] Gann 
  angles - can they be quantified?<FONT 
  face=arial,helvetica><FONT face="Arial Rounded MT Bold" lang=0 size=2 
  FAMILY="SANSSERIF">Ned,    Here is a look at my daily 
  S&P cash chart. Sorry for all the E-wave clutter. (ggg) If 1053.61 is 
  broken to the downside then I would have to go to an alternate count which 
  would move the most recent wave 5 to where wave b currently is and target a 
  new 2:a:B low. Lenny To unsubscribe from this 
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  to:realtraders-unsubscribe@xxxxxxxxxxxxxxxYour 
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