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To: JRI who wrote (3874)	5/31/2001 2:29:25 AM
From: Perspective	Read Replies (2) \| Respond to of 209892

The wave 2 rally was a 50% retrace, in a sharp fashion. I don't think wave 4 gets so far. Looking for more like 38% retrace of wave 3, and wave b of 4 should come down to the terminus of wave 3. Just using the rule of alternation here. Basically what I'm saying is that the correction shouldn't have the same shape as the 2. I'm having trouble counting the others, so I'm not bothering. I think this 4 could go on for a day or two. Do you know the coming turn dates? My preference would be for this impulsive down to wrap up on the coming turn date, and the following (presumably) corrective up to terminate on the next turn date; I just don't know how far apart they are here. Look at the dailies; barring a violent rally for the next three days, a June 4th turn would have to be a low. BC