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To: BigBull who wrote (43390)4/28/1999 8:21:00 AM
From: Gary Burton  Read Replies (2) | Respond to of 95453
 
I think this is the Wave 5 I have been waiting for, to complete the sequence from 60.52. As said before, I anticipate this to top out at 77-79....If it blows through 80 in next few days, however, it will signal into the 90's. Doubt it at present. Think we will double top in the 77-80 area and then retrace back below 70 to regroup again.....What was concerning me yesterday am was that at yesterday's low, wave 4 had retraced 65% of wave 3--once it gets beyond 50%, one begins to look for alternate counts--but it bottomed above wave 1, so is a valid 4,and a deep retrace on 4 adds more reason to anticipate a double top for 5, not a thrust past 80---my 2c