CFZ E-Wiggle Workspace Message Board

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Strategies & Market Trends : CFZ E-Wiggle Workspace

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To: rayrohn who wrote (10268)	4/10/2009 10:14:38 AM
From: Perspective	Read Replies (1) of 41550

Whoa, folks. For a 4-fold move like that (35-148) you really have to use logarithmic retracements. It's the only thing that makes sense. (The chart is log, but the targets aren't. Log targets should look evenly spaced on a log chart.) Perhaps you knew it already, but I get $60.63 for the 38.2% retracement using 10^(LOG(148.46/34.86)0.382)34.86 Given the horizontal resistance that stands there, it looks like a decent shot for a significant turn. Also would make a good wave "C" target for a flat off the December lows. Bulls aren't gonna like it, but I think the impulse off 148 says that, more likely than not, there's a brother leg down to come. Kinda spooky - perhaps Ewave is foreshadowing the wipeout leg of our Lesser Depression. Heck, I might even join you on the short side if it gets to $60... `BC

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