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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (16514)	10/15/2001 4:34:55 PM
From: Chip McVickar	Read Replies (1) of 209892

Shack, If I may ask a possibly "Dumb" ewave question...? geocities.com Your DJIA chart has the first wave completed at 8718, with wave 2 ending at about 8471. Yet the bottom and beginning of this move began at 8062..., this is not even a 50% retrace. Is it possible that this retrace was not deep enough to be considered the end of wave 1...! We may be looking at a First Wave Extension, and if so where would wave 2 begin...? Wave 2 Personalities: "Second waves usually retrace, or give back, all or most of wave 1.... [and] must hold above the bottom of wave 1." Murphy Chip

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