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Strategies & Market Trends : gem-x's incredibly accurate Elliott Wave forecasts.

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To: gem-x who started this subject	8/28/2001 9:04:23 PM
From: gem-x	Read Replies (2) of 2290

I'm using the measurement of the zigzag from 5120 to 1619 to figure out this double zigzag. Here's the zigzag on the big correction: Wave A 5120 to 3150/3200 Wave B 3150/3200 to 4250 Wave C 4250 to 1619 In the Wave C, the NASDAQ conformed to equality on A and C when it hit 2251, and that was the guru number from Abbey Joseph Cohen and I believe Ralph Bloch. A and C were both close to 2000 points, and than wave 4 was the fake rally in Jan from 2251 to 2850 (.333 of wave 3 bounce), which can be compared to the rally from Wed-Mon, 1818 to 1934. At 1818 there was equality in the zigzag, but since the rally came short of 1939, the fifth wave down should be at least equal to wave 1 down (166 points) or .618 Wave 1 + Wave 3 (177 points). The wave 5 down from 2850 to 1619 was .618 X wave 1 + wave 3 = about 1200 points. 2850 -1200-1225 = 1614-1619. So the last wave down should be 1934 - 166 = 1767 or 1934 - 177, 1757, like the 5th wave on the bigger zigzag. But the worst case scenario is the 5th wave being 1.618 X wave 1, and would target 1666 (ugh)

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