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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: fedhead who wrote (5140)7/21/2000 7:33:55 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
the SOX looks technically extremely dangerous imo....i wouldn't want to wait until it really takes out those lows. imo a secondary peak is in and it's either in a wave C or 3 down now. note, it broke through both the 20 and 50 dma, as well as the most recent up-trend line. what's more, there were several oscillator divergences at the secondary top, which make the action even more ominous.

since the first wave down from the March peak was an impulsive structure, it is more likely a wave 3 that's unfolding. if so, you really don't want to stand in its way. if you have positions, at least hedge them.
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