Hello LG, been busy lately, here is the latest beanie report, we had a clear five waves down on nasdaq from the recent swing high into fomc and the volume reversal yesterday appears to have put in a bottom, but that still has not been confirmed.
We continue to be in a triangle in the major averages, and i had believed that the we had three drives to a top in the spx from the 1998 low, which is a rising wedge.
the three drives, were july 99, jan 00, march 00.
however it has been brought to my attention that there is an alternate count with A being july 99, and abc into march 00, and this triangle we are in is 4, with one more leg up after we break out of this triangle.
so until we break out of the triangle in the major averages, the direction is unclear.
i think i'll watch the AXP triangle closely -g-
b |
