| Thanks for the chart Shack. This is also my prefered count. A couple of other points. *In this wave 2, if A = C then price is 153.39. *Notice the location of the middle tyne of the pitchfork. Acts like a magnet. *Previous 155 tops in May 02 and then again in Jan 03 could act as support. *The weekly chart now has simple moving average at 153.93. (EMA) is at 166.46. *Linear chart support is at 140-145. *Looking at time relationship, in this corrective Wave 2, Wave A lasted app. 23 weeks. Wave B up lasted app. 27 weeks. We currently are in week 21 of this Wave C. (maybe 2 more weeks of down.) *It appears that we could find a tradeable bottom of this corrective Wave 2 somewhere between 140 and 166. More likely between 140 and 155 IMO. stockcharts.com[w,a]wacayyay[d20000416,20050416][pc20!d20,2!c50!c200!f][vc60][iub14!la12,26,9!lp14,3,3!ll12!lk14!ld20!lv25][J49140873,Y]&listNum=1 Just a few thoughts. Steve |
