Alternate #1 : wave 4 not done, is forming a triangle
Alternate #2 : wave 4 done at 1352.50 low of Apr 10,
wave 5 forming ending diagonal
wave 5 forming ending diagonal
Monday, April 16, 2012
Monday, 4/16/12 update
Here's a couple more alternate possibilities based on the idea that the bull move that started on Nov 25 still needs a 5th wave to complete it:
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Hi Al,
ReplyDeleteI have a couple of EW questions for you. I read about some guidelines or rules that seem to control length of waves.
Wave 1= 1159 to 1267 (108 pts)
Wave 2 normally equals 0.5 to 0.618 (Wave 1). Wave 2 = 65 points = 0.608 Wave 1
Wave 3 = 1.618 (Wave1) = 1.618 (108) = 176 points (Spot on since I believe that Wave 3 ended @ 1378
Wave 4 = 0.236 to 0.382 (Wave 3) = 41-67 points (Wave 4 = 38)
Wave 5 = Wave 1 =1448
Wave 5 = 0.618 to 0.764 (Wave3) = 1448 to 1474
Can Wave have gone to 1422? If so then Wave 4 would stop between 1370 and 1338
Sorry it's taken so long to answer you. Your last line is missing a number, do you mean to ask whether wave 3 could have gone to 1422? Yes, it definitely could and that's the way I'm counting it in some of the alternates I'm tracking. Also, we may have already seen the low of wave 4.
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