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Non-Tech : Raptor's Den
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To: velociraptor_ who wrote (4636)10/22/2002 12:59:36 PM
From: mansan  Read Replies (2) of 10157
 
Velo, here is my take;

This corrective move could be either March or August high of this year.

1) The Comp retrace about 62% of August high, we are now either wave 3 or 5 downward toward a lower low.

2) If this is a corrective move of March high then wave A was probably completed yesterday. Wave B started this morning. It will probably retrace 500 pts or more in the Dow off yesterday's high, then C up to around 9350.

Now the question is how do we know if it is just a B and not a 3 or 5 downward?

Will 5 waves impulse move downward enough to eliminate wave B?

Thanks,
Manny
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