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Non-Tech : Raptor's Den
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To: velociraptor_ who started this subject1/7/2003 1:02:07 PM
From: velociraptor_  Read Replies (1) of 10157
 
Here's where it looks like we are at....

5 wave up move in progress with wave 4 in process. Todays' mild pullback looks corrective and this is the second since the low which correlates well with a wave 4. We also bounced off the lower channel line. That means we only have wave 5 up to go. Now note in the chart below that wave 3 is NOT the longest wave which means wave 1 extended with 40 points. Wave 3 was about 28 points. That means wave 5 cannot be longer than 28 points and is likely to be less. Maximum upside on the S&P is at 948. Maximum upside on the DOW is 250 points or about 8950. Waves 1 and 3 are roughly equal in the Nasdaq which means wave 5 is likely to be trucated. Top should be somewhere under 1475 with 1455 or less favored.

raptorgroupresearch.com
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