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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (42194)4/14/1999 2:10:00 PM
From: Gary Burton  Read Replies (2) of 95453
 
I think that if 60.52 falls, we will see mid-50s----possibly lower. That's because we would then be in wave 3 of C and wave 3 is usually the longest wave in the sequence. wave 1 of C would have travelled 6.28pts so wave 3 would match this at 60.01. But under elliott, the wave 4 retrace back up must not go above the bottom of wave 1 (and wave 1 would have bottomed at 60.52) suggesting that wave 3 would likely extend into say 57-58, then a wave 4 blip up and failing to print 60.52 then wave 5 below the bottom of 3. just my 2c
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