Silver Price Crash?
Commodities / Gold and Silver 2010 Sep 09, 2010 - 08:39 AMBy: Ronald_Rosen
What is an eight wave cycle?
“A five-wave impulse (whose subwaves are denoted by numbers) is followed by a three-wave correction (whose subwaves are denoted by letters) to form a complete cycle of eight waves.” E.W.P.
SILVER QUARTERLY
WAVE [B] OF THIS FLAT IS POTENTIALLY COMPLETE.
The small (a) of this flat topped at $16.25. It began at the $8.40 low. Small (a) = $7.85.
The small (c) of this flat may have topped at $20.18. It began at $12.43. Small (c) = $7.75
The open interest, in green at the bottom of this chart, has been declining ever since the A, B, C correction began in March 2008. The only thing missing is the eighth wave down which is wave C. It should bring the price of silver to below $8.40.
WHY EIGHT WAVES AND WHY THE NUMBER EIGHT?
Properties of the number 8
“EIGHT. Denotes resurrection, regeneration; a new beginning or commencement. The eighth is a new first. Hence the octave in music, color, days of the week, &c. It is the number which has to do with the LORD, Who rose on the eighth, or new "first-day". This is, therefore, the Dominical number.”
“In Christianity, it signifies a new beginning.”
- “Number of the perfection, the infinity. In mathematics the symbol of the infinity is represented by a 8 laid down.
- Symbol of the cosmic Christ.
- In China, the 8 expresses the totality of the universe.
- Number of the balance and of the cosmic order, according to the Egyptians.
- Number expressing the matter, it is also the symbol of the incarnation in the matter which becomes itself creative and autonomous, governing its own laws.
- The number eight corresponds to the New Testament, according to Ambroise.
- It is the symbol of the new Life, the final Resurrection and the anticipated Resurrection that is the baptism.
- According to Clement of Alexandria, the Christ places under the sign of 8 the one he made to be born again.
- Represent the totality and the coherence of the creation in evolution. In China, it expresses the totality of the universe.
- The eight "trigrams" of "Fou-Hi" Chinese philosopher.
- The eight parts of the way which leads to the nirvana, according to the Buddhist doctrines: the faith, the right judgement, the right language, a right and pure action, a right profession, the application of the spirit to all the precepts of the law, the right memory and the right meditation.
- The Buddhists count eight symbols of long life of which one of them is the infinite node being rolled up and withdrawn on itself.
- There are eight degrees of Buddhist monks or "Aryas" and the highest is named "Arhat".
- The lotus is represented symbolically with 8 petals and according to yogis, it is on a lotus with 8 petals that the "Mêru" mount is erected which, symbolically, represents the center and the axis of the world.
- The Yoga counts eight training courses: Yama, the restriction; Niyama, religious observances; Asana, the posture; Pranayama, the control of the breathing; Praty-ahara, the restriction of senses; Dharana, the concentration; Dhyana, the contemplation and Samadhi, the ecstasy.
- The Avesta mentions eight categories of priest: a superior, the Zaotar, which recites the texts, and seven subordinates: the Havanan which crushes the Homa in the mortar, the Atarevakhsha which maintains the fire, the fraberetar being in charge of the instruments for the Sacrifice, the Aberet carrying the holy water, the Acnatar that washes the sacred vases, the Raethwiskar that purifies the soiled men and objects, and the Craoshavereza or confessor.
- The eight categories of priests of Zarathustra.
- For the Indians, there are the eight modes of marriage mentioned by Manou: mode of Brahma, Devas, Rishis, Pradjapatis, Asouras, Ghandarvas, Rakchasas and Pisatchas.
- For the Greeks, the number 8 was dedicated to Dyonisios, born the eighth month of the year.
- The eight ministers of the Chinese Empire.
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By Ron Rosen
M I G H T Y I N S P I R I T
Ronald L. Rosen served in the U.S.Navy, with two combat tours Korean War. He later graduated from New York University and became a Registered Representative, stock and commodity broker with Carl M. Loeb, Rhodes & Co. and then Carter, Berlind and Weill. He retired to become private investor and is a director of the Delta Society International
Disclaimer: The contents of this letter represent the opinions of Ronald L. Rosen and Alistair Gilbert Nothing contained herein is intended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such. Ronald L. Rosen and Alistair Gilbert are not registered investment advisors. Information and analysis above are derived from sources and using methods believed to be reliable, but Ronald L. Rosen and Alistair Gilbert cannot accept responsibility for any trading losses you may incur as a result of your reliance on this analysis and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions.
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