Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (39835)	3/13/1999 11:46:00 AM
From: Gary Burton	Read Replies (1) of 95453

More EW....Motive Waves like this one go up in a 5 wave sequence. Each of the 1st,3rd and 5th themselves subdivide into 5 smaller waves....Looking at a number of OSX stocks, many seem to be tracing out the same pattern... I think that the Fri low print was for many of them the bottom of subwave (iv) of Wave 3-possibly Monday may print a low a bit below fri's low and then That would be the bottom of (iv) of Wave 3...From there, I think we will then take out last Thurs/Fri's high to finish Wave 3... Then we should back off again (towards The Fri/Mon low print) to end Wave 4 and finally zip up again for a fresh new high for the move to complete Wave 5...So, in summary, 2 more peaks and this particular 5 Wave move is over.......AFTER that, a larger retracement should set in which can typically retrace 50-62% of the entire 5 Wave sequence off the low. In super bullish markets the retrace can be as little as say 20%....But after such retrace, another 5 Wave sequence up should get underway and take us beyond the top of the first 5 Wave sequence....fwiw voodoo to some, uncanny to others (vbg)

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