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The 5-upwaves from 9/11 has turned into an extension. So
any ensuing correction to the
downside should also turn out to also be a 'double
retracement'.....
Chas
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Anybody up for this? I'd value anyone's thoughts or
comments.
Wave A was down (GLD) from March 17 to a low on May 1.
(You can see the breakdown of 3 waves)
Wave B was up from May 1 to a high on July 15.
(You can see it was a 3-3-5: again a breakdown of 3
waves)
Current wave C is as follows:
Wave 1 of C from July 15 to Aug 15 AND IT WAS AN
EXTENSION, but more on that later,
Wave 2 of C was just completed as follows:
8/15 to 8/28 (3 up)
8/15 to 9/11 (3 down)
9/11 thru today (5 up).....and represents a 'double
retracement' to where the
original extension began.
I know that extensions are usually not wave 1 affairs,
but.....
Conclusion: Waves 3 down, 4 up, and 5 down are yet to
come, marking the end of
the correction from March 17.
Comments welcomed; and thank you; and I know this is a
contrary view.
Chas
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