WR,
Wave 3 by definition is composed of 5 sub-waves. I believe that we are entering sub-wave 4 of big-wave 3.
If you refer to this...
bigcharts.marketwatch.com
I count big wave 1 (up) from November, 2000 to May, 2001... then big wave 2 (down) from May, 2001 to November, 2001... then big wave 3 (up) from November, 2001 to ? (probably September, 2002). There are 5 waves to an impulsive sequence (within an odd-numbered wave of the next higher order of magnitude) and 3 waves to a corrective sequence (within an even-numbered wave of the next higher order of magnitude). Can you see 5 sub-waves (up, down, up, down, up) within big wave 1? Can you see 3 sub-waves (down, up, down) within big wave 2? Can you see 3 sub-waves (up, down, up) so far within big wave 3? That would imply that we have 2 more sub-waves (down, up) within big wave 3 to complete its 5 wave sequence.
If this script plays out, big wave 4 would be a relatively lengthy down wave composed of 3 sub-waves and after that big wave 5 (up) would be the one they talk about at cocktail parties (the general public generally only figures things out by the time of big wave 5).
Hope that helps,
vt |
