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To: the-phoenix who wrote (75303)6/4/2003 8:37:23 PM
From: Shack  Read Replies (2) | Respond to of 209892
 
Channels are good clues. They are not crucial to the count but I find they really help.

As for Velo, you'll have to ask him because it should be a 5 wave move. The entire move off the October lows could be a double three in which case his 'C' wave is actually a 'Y' wave. That's valid.

I'm sticking with the 5 wave 'C' wave for now.



To: the-phoenix who wrote (75303)6/4/2003 8:51:56 PM
From: skinowski  Respond to of 209892
 
Looking at that chart... the Prechter's group counts the rally from October as ABC-X-ABC, a double zigzag, in which Velo's "B" is labeled "X". The net result is the same, namely, that the move out of March 31 is a 5-waver labeled "C".

That would place us in the very last stages of the rally since October... unless Mr. Market picks a different alternate.


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