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My problem with using the 10/70 on the weekly spoo is that the 5/35 has not
violated any of the AGet rules. The W.4 pullback in the 5/35 was within
range and the 5/35 is now showing the appropriate divergence between w.3 and
w.5.
Earl
----- Original Message -----
From: <rosow@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, November 04, 2001 9:52 PM
Subject: Re: [RT] thoughts on retest
> Lee,
> When you look at the 10/70 on the weekly you need to change your
Elliott
> counts from original to long term so you are matching apples with apples.
See
> the attached weekly with both long term views. The weekly Elliott long
term
> has a wave 3 complete and wave 4 is underway. The PTI is at 53 In my book
the
> higher time frame is usually boss while the lower time frame counts flip
back
> in forth. I like you have trouble with the daily chart because it sure
looks
> to have completed wave 4:5. But the weekly long term suggests the
beginning
> of a wave 4 with much room to go.
>
> Here are some things to note:
>
> 1) Wave 3 extended 261.8% of wave 1
> 2) Wave 4 price target would be a minimum of around 1168 which you
mentioned.
> 3) My wave 4 minimum time target using this scenario would be the week of
> 02/15/02 but fast markets kills these time targets : >)
> 4) Considering the wave 2 top is pretty much the same as the wave one top
> whether it's a wave 4 retracement or a wave B retracement the upside #'s
are
> pretty much the same.
>
> Lenny
>
>
>
>
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