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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: robert b furman who wrote (37677)	10/26/1999 7:41:00 AM
From: Bull RidaH	Read Replies (2) of 44573

Bob & Chip .... In the last ewave update to stinky, a B wave rally was discussed, and an inclination for that rally to end soon was discussed. It ran a day or 2 longer than forecasted, but looks to have ended at the high on Friday. The S&P then kicked off the Wave C decline late Friday and completed the 1st Wave of C at yesterday's low (around 1286), and began a Wave 2 of C rally from there. We had a nice rally back up to around 1301 for wave a of 2, then a selloff into the close for b of 2, and we should get a c of 2 rally sometime today before the Big 3 of C down begins. So I'm looking for early up today followed by the big melt that could run for a couple days. Minimum targets for this C wave down is 1250 SPX (based on a 70% minimum retracement requirement for wave C of wave B, which (wave B) ran from 1233 back up to 1311 on friday. The maximum depth for the move lower will be to 1217 SPX. If this (1217) fails to hold, a more bearish read would prevail that would allow for a move to 1155 SPX. Once we have found the end of this run down, it will be time to Ride Tha Bull and Pet Your Cat!! David

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