To: dennis michael patterson who wrote (1348 ) 2/27/2001 6:09:28 PM From: velociraptor_ Read Replies (1) | Respond to Actually, I think the next down move is it for wave 1 of 3 down. My interpretation is that we have completed waves 1, 2, 3, and 4 of wave 1 of 3 and have now started 5 of 1 of 3 down. I am anticipating that this will lead to somewhere around 2050-2086 to complete 5 waves down for wave 1. Since this should be a fairly strong resistance level, I would surmise that it would not break on the first test and thus, it would be an ideal level to start a wave 2 of 3 corrective bounce that should last at least a few days, and perhaps retrace maybe 38% of the downmove in wave 1 from 2890 for a potential target of around 2380. Coincidentally, the retrace of 38% to this level lands us right at the base of the end of wave 1 down which would be a perfect scenario. I know...all this sounds too good to be true to be able to predic this accuratelyt. While I cannot be 100% sure that things will occur in this fashion, the targets and support resistance levels are uncanny so they are worth watching. This is my best guess, of course, based on the charts, and things can always change, but in trying to keep it as simple as possible this is what I get.
