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Strategies & Market Trends : Sharck Soup
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To: JRI who wrote (14579)4/4/2001 1:43:28 AM
From: velociraptor_   of 37746
 
JRI...your analysis could be correct. The nasdaq has been a bit more difficult to read now as the psychology shifts more to the DOW and S&P. Incidentally, those index patterns are now becoming more clear and it is not surprising as Elliot wave is based on human phsychology. My best guess is to watch for the DOW and S&P more for guidance. I suspect that wherever the Nasdaq is, it will follow the other 2 indexes. Incidentally, the most bearish scenario has the Nasdaq ultimately hitting a low of near 300. I am not nearly that bearish, but then I am keeping my mind open to anything. My personal bottom for now is near 1000 but we'll get a nice bounce before then. This target would be for later in the year or early next year.
At this point, I also think using percentages would be a better indicator rather than specific points.
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