Dow Waves: Time for a downwave?

Posted on Mar 18, 2010 by WHC Bassetti in Letters

What's wrong with this picture? Think for 30 seconds then read next sentence.

Nothing. Nothing is wrong, but it is incomplete. It is time to begin thinking about the next downwave, because every upwave must have a downwave (or consolidation) to be complete. It's like yin and yang, black and white, love and marriage, horse and carriage, etc and op cit, etc. But there's nothing to do, except think. Because the stop remains where it was, since there has been no higher Basing Point generated.

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