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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (31484)	2/18/2002 2:42:18 PM
From: At_The_Ask	of 209892

HMMM thats not bad. We would then be in a B down at this point. Here are some targets based on that work. Using the SPX as a gauge for the broad markets. From the bull peak to the sept. low we lost 608 points(Wave w). .382 times 608 gives us a target of 1176 for the total retracement of wave x. The exact post 9-11 high thus far has been 1176, pretty amazing. So I guess we should assume that if we get a flat x we would stop here again after the b down and c up. This would give us an eventual downside target of SPX of 568 for the end of wave y. Perhaps we get a 50% or 62% retrace of the w. This would certainly help as far as lessening financial destruction, it doesn't seem likely that for a zig zag such a large retrace would be in order. Considering the high valuations and massive debt structure that we have this plan seems pretty likely to me.

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