Bobby,
With wave 1 being 60 SPX points down, and wave 3 being about 86 points, wave 5 has one of two choices... It can match up with wave 1's size of 60 pts., or if truncated, 30 to 60. Or, it could hold the same ratio to 3 as 3 had to 1. That would make it 123 pts. in size, and probably with extensions as well, but it should'nt take much more than 5 days to complete, even if it's the larger version with extensions.
I vote for #2, but I'm gonna let my trend following computerized trading system tell me when the party's over. Then I'll be sporting hooves and horns and a somewhat smaller...well...I won't go there, since this IS the family channel. The counter trend rally from the bottom should be a honey of a move too. When are you pressing the button that will help destroy the U.S. market (over)valuation and load your account with puts? <g>
Regards,
David |
