Bobby,
Call me a purist, but I'm not a believer in the "ABCDE" corrective wave assignment methodology, and prefer to stick with "ABC" only. I am in agreement with the assignment of the 3rd Cycle wave ending 8/7/97, but from there, I use the following count:
Within 4th Cycle (corrective) wave:
A ended 9/11/97
B ended 10/8/97
C ended 11/13/97
From there (11/13/97), I believe we began the 5th Cycle wave that will complete the supercycle that began in Aug. 1982. Subdividing this 5th Cycle wave into it 5 Primary waves, I believe we completed the 1st primary wave on April 6th morning (mergermonday). I have the following dates for the 5 intermediate subwaves within this 1st Primary:
1 ended 12/5/97
2 ended 1/12/98
3 ended 3/20/98
4 ended 3/27/98
5 ended 4/6/98
From 4/6/98, I believe we started the Primary 2 wave ABC correction, completing it on 4/27/98, as I described in post #17835, and have since started the Primary Wave 3 up. I believe the first of 5 intermediate waves making up Primary 3 was completed at Monday's high (5/4), and that we are now in an intermediate wave 2 correction that could take us to between 1117 and 1102 on the June S&P. From there, I believe we'll embark on a very powerful intermediate wave 3 of Primary 3 rally that could take the June S&P to between 1155 & 1185 before May expiration.
Regards,
David |
