Chas,
Please see below.
From: realtraders@xxxxxxxxxxxxxxx
[mailto:realtraders@xxxxxxxxxxxxxxx]
On Behalf Of Charles Meyer
Sent: Tuesday, October 18, 2005
4:07 PM
To: REAL TRADERS
Subject: [RT] ELLIOTT ON GOLD?
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.)
NW: Summer of 1976,
Saturn entered Leo, the ruling sign for Gold. July 2005, Saturn, whiich is
a 29.5 year cycle, entered Leo again. So,
the Saturn cycle says there should be some parallels between 1976 and 2005.
Regards,
Norm
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.
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