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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject3/23/2001 3:32:34 PM
From: velociraptor_  Read Replies (2) of 37746
 
Looks like they want to take it up into the close so as not to give any down impressions. Monday looks to be a down day, though.

It appears that this may be wave A of the correction. If so, look to take profits sometime on the decline. It it's a running correction it will make new lows during the process. If not, we'll make a higher low, but I would probably look for a 50% retrace of the entire move from the lows Thursday.

The indexes are forming a rising wedge which is bearish. They have not broken yet, but are near the apex. It is not uncommon for these formations to run right up into the close and then break on the next trading day.
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