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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	3/6/2001 11:12:09 AM
From: velociraptor_	Read Replies (1) of 37746

An interesting observation... If you look at the daily chart for the Nasdaq Comp, you'll see that back in Mid Feb we had a large gap to the upside which was immediately gapped back down the next day for a very small island reversal. This gap went outside of the established downward trading channel and the gap down went back inside the channel. Now, notice that today's gap up has so far done exactly the same thing. A move down tomorrow would confirm. I find this to be very peculiar as I can now easily count 5 waves down from the last gap up to this one. So...could everything from the January high to the firsdt gap be wave 1 down, while everything from then until this gap be wave 3? If so, then one would expect wave 5 to commmence to new lows with today being a high point. raptorgroupresearch.com

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