Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bull RidaH who wrote (28405)	9/22/1998 8:12:00 PM
From: Gary Burton	Read Replies (1) of 94695

David--fwiw--Prechter has now discounted an 'exact' replica of 29 format--instead is currently sticking to approx double the time to complete the same thing ---frankly, the jury is still out as to whether your 2 ended last Wed at 8103---I think we are doing a double ZZ up from the 7400 low and we may well have a 'c' to come to complete the second zz of this pattern-----More to the bigger picture----I think it is either a B wave or the (iv) of A --as I think there is a better than even chance that we have 1 more new high to come. I say this largely because on the weekly chart there has so far only been one negative divergence with the macd oscillator (the most recent one) since 1987 and logic suggests we will need at least one more divergence--ie we are now tracing out W4 not the early part of a Major drop. My 2c

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