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Monday, May 21, 2012

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Virgil

The doom and doom gloomer also has a rarely shown alternate count which could make a little more sense than the much maligned P3.

I agree the triangle is probably the top count as far as looks go,
but what about this:

2003 to 2007, rather than being a "b" of a flat as EWI would have it or a "b" of a Yelnick Wave triangle,

really was THE top. 2007 to 2009 would be an A wave down. That would put us in the B wave now (or just done, depending on the internal count) with a nasty C to follow. It looks better in the Dow. B retraced a fibonacci 88.6%, close enough to flat territory so C would likely be over 100% as long as A, maybe even fibbing out to Prechter's target.

5th waves can be as ugly as corrections sometimes. There are couple ways to count 2003 to 2007 not as a three legged B wave but a five wave terminal.

Account Deleted

A very clear and a probable wave count.. Thanks for sharing this.

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