Stock Attack -- A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Paul Shread who wrote (25593)	7/18/2000 3:50:13 PM
From: John T.	Read Replies (2) of 42787

Yes, Paul, that's the bearish scenario. Under this scenario, after the big top, we started moving down in a large ABC correction. We haven't reached A yet. We have to do 5 waves down to get to A. So, under this theory, the May bottom was wave 1 down. Since then we have corrected upward in an ABC correction. Again, under the bearish scenario, we may have just hit wave C with the recent highs. This would have been the end of corrective wave 2. That means that the market will now trend down in wave 3 (on its way to A) and take out the May lows. We should know soon whether that scenario is a reality. Remember, this is the most bearish long-term scenario. At this time, its purely hypothetical.

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