Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Stcgg who wrote (47676)	5/30/2000 12:07:00 AM
From: bobby beara	Read Replies (1) of 94695

>>>>there are 5 waves down on all indices from their recent hi's..<<<< which recent highs are you talking about, FOMC, May 1st, March 24, March 10th? The count on the nasdaq from fomc was complete at the low last week and some stocks completed five waves down from may 1st, swing high, other than that, the counts on the major averages are inconclusive too me, the spx remains in a triangle with a trendline off the october 99 lows and the March 99 highs. My prefered count is that the spx made an ABCDE rising wedge from the october 98 lows, C being the jan top, E being the march top, which was coincident with the manic blow-off in tech. Rising wedges with sloppy overlays and declining momentum thru the wedge are usually ending patterns. It also looks like the $ has completed five waves up from the October 99 low several trading sessions ago and took out it's recent swing low on a big black candle. The above wedge pattern is confirmed by 5 wave counts on both the nikkei and the hang seng wave counts from the october 98 lows to the march highs. b

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