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Group-
I'd appreciate any thoughts or comments you might
have on the following information.
Wave 1 = August, 1999 to October,
1999
Wave 2 = October, 1999 to February,
2001
Wave 3 = February, 2001 to ???
It's difficult to get a clearly
defined 5-Upwaves from the February, 2001 lows to present. Yes, one
can count 5-Upwaves
so there current move is actually an 'extension';
or as I'm thinking; part of an A-B-C 'irregular'
correction. This is because Wave 2 can be clearly seen as encompassing a great deal of both price and
time; and any Wave 4 cannot be recognized as having the same
symmetry.
In any event; an irregular correction is what
occurrred in 1976. (Why market conditions may now be similiar to that
time
period is beyond the scope of this
explanation.) Wave A occurred from 180 down
to 129. Then Wave B took the market from
129 to a new high on the last trading day of 1974 at a price of 200. The
final Wave C was then composed of 5-Downwaves
that took place during the first 9-months of 1976 when gold bottomed around 103,
in August of that year.
I'm thinking that we are currently in a similiar
Wave B; with the final Wave C to unfold sometime in the future in both
price and time. Using some mathmatical
formula; I get a price target of $366 and $368,
I'd appreciate and value a better, more correct
interpretation? Thank you for your time and attention.
Chas
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