Market CORRECTION or CRASH? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market CORRECTION or CRASH?

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Don Roberts who wrote ()	4/14/1997 6:40:00 PM
From: Dale Schwartzenhauer	of 22

Based on today's intra-day low of 6356 and the 95 point rebound thereafter, I think there's a good chance the market has bottomed temporarily. In addition to the nice turnaround, other arguments in favor are the equality of this decline (minor wave 5 compared to minor wave 1), and the lack of new lows in the bond market. What was unimpressive was the volume and the A-D ratio or market breadth. If this is a low for intermediate wave 1, I expect a rebound to about 6720 over the next week, followed by a collapse to around 5000, to end intermediate wave 3. Thereafter, we should get a sharp wave 4 rebound, theoretically to about 6075, and a final blowoff to about 4410. Many of these numbers could change based on the height of a rebound (if it started today). If we get another new low first, most of these targets will be proportionately lower. I should emphasize this is all based on technical analysis of the Elliott Wave variety, which you may or may not be a believer in. They correctly called the last 10% decline, so one has to at least give it lip service. Best regards. Dale

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next