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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Shack who wrote (79216)3/12/2001 7:55:13 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
the thought has occurred to me as well. it's possible that what is happening is actually bigger than i though it would be....so the March 23 low could in fact be a brutal one. one needs to be very careful with the bounces....bounces have all been very shallow, and the declines are BROAD. that tells me we are in a third wave of sorts...looking at e.g. the XBD (broker index), that's either in wave 3 or C down.
same goes for the NYA...i vote for this being a wave 3....which means among other things it can't be over yet. i think the SnP may have produced a 'failed fifth' at the late Aug/early Sept. high. if correct, that implies major weakness, and we sure got major weakness ever since.
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