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Strategies & Market Trends : NASDAQ SP DJ OEX INDICES TA ONLY! -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (81)	6/19/2000 3:47:00 PM
From: fut_trade	Read Replies (1) \| Respond to of 93

...Can any Elliot Wavers give their take on the Mar/May NDX drop? Sure. The NDX peaked at 4816 on March 24 and dropped 40% (or 2/5) to 2897 on May 24. The correction lasted exactly 2 months. Note that the first Fibonacci number 2 + 1 = 3, where 3 represents the third month (March), when the correction initiated. Note also the second Fibonacci number 2 + 3 = 5, where 5 represents the fifth month (May), when the correction finalized. Now the total drop (40% or 2/5) of the NDX is given by the duration of the correction in months divided by the month the correction ended. Therefore, we can expect another 40% correction 3 years from now beginning in March.