Chart, page-167

I don't use waves in the sense of Elliott Theory. I learnt a long time ago that shares have certain behaviors within specific fibonacci cycles. For every action there are a number of acceptable reactions, which occur within larger degree structures, by understanding how far something retraces, and just when and how that occurs, can tell a lot about a stock. As an example don't look at a double bottom, look at how each leg reacts to another, look at where it's occurring, is it within a larger trend? Look at the targets it will generate, do they correlate to other structures? Is everything being supported by volume? TA isn't easy, there's a hell of a lot of work involved and a hell of a lot to learn before it starts to get easy.

I've made some massive long term calls on stocks over the years based on very small structures that formed over a few weeks or months, yet were critical to larger degree moves. LYC I believe is in the process of doing that right now but I can assure you this period will be forgotten by most here. LYC I made some very bearish claims here years back, same with ARI, AGO etc etc, at much higher levels. The number mentioned above was 7.(5)6 which is a number I've mentioned numerous times. The 6.3 that I've mentioned has less importance now than it did previously. See if you can work out possible reasons as to why I might think that?
The number of 7.5/6 was first generated as a target in May 2011 and has since popped up in calculations from various structures many times. It's what's considered as a larger degree level therefore has more importance.