Actually, Jeff, I think this week more closely resembles the late April / early May 2000 move:
stockcharts.com[h,a]daclyiay[d20000101,20000914][pb9!b13!b20!h.02,.20!b200!b150!b50!d20,2!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14]&pref=G
I'm no e-waver, but from what I can see the move down from the March high was a 5-wave to 3227, a 3-wave correction (like we're in now) to the high at 3982, followed by a 5-wave drop to the low at 3042 in late May.
You may notice that a corrective move also followed that drop. The timing of the run over the summer may work nicely with a summer rally. This works with waves also, I believe. |
