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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (2138)	5/9/2001 10:13:33 AM
From: Perspective	of 209892

Once amateur hour is over, we should begin the day's move. So far, I'd bet the amateurs are buying the dip, and when their support leaves at 10:30AM, the downward pressure should cause a slow bleed. I don't think you can get much downward acceleration until the Fed rate is out of the way, though. If amateur hour ends with a trip toward the green side, I'm going to have to seriously consider the possibility that the structure in SOX off the early April lows is in fact A up with a flat B to correct it, with C up still to come. I don't like the inner counts, but I can't help but see that potential when I look at the longer term charts. BC

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