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Strategies & Market Trends : gem-x's incredibly accurate Elliott Wave forecasts. -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (1757)	1/16/2002 1:45:11 PM
From: Henry J Costanzo	Read Replies (1) \| Respond to of 2290

FWIW here's my count of the Wave 1 (or A) up from the Sept low (COMPX): Bottom -- 9/21 -- 1387 Wave 1 -- 10/17 -- 1784 -- up 367 Wave 2 -- 10/30 -- 1648 -- down 106 Wave 3 -- 12/6 -- 2065 -- up 417 Wave 4 -- 12/20 -- 1918 -- down 147 Wave 5 -- 1/9 -- 2098 -- up 180 There are no overlaps in these waves, and Wave 3 is the longest, so IMHO this is as valid a count as any for the post-Sept action to Jan 9. If the foregoing is not pure fantasy, then we're now in a Wave 2 correction of the advance to 2098. Despite all the gloom and doom, the correction so far has been pretty modest - about 20% of the advance had been retraced as of this morning's low.... A FIB 38.2% retracement would take us to 1827. A retracement only to the bottom of the preceding wave 4 would take us to 1936 - which isn't far away.....The fact that we didn't get there right away this morning leads me to believe that the correction is winding down and an upturn is now imminent.... (How's that for being brave???)