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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (86784)3/28/2001 11:02:39 AM
From: Perspective  Read Replies (1) of 436258
 
Perhaps some direction can be gleaned from the count on DJIA/SPX. If I'd have listened to my gut that DJIA was ready to do some more giving, I would have waited on some covering. There are clearly five waves up off the bottom in DJIA, so it argued for a corrective downward move here. Boy, did we get it. Given the time scale of the upward move, the down should last about 1-2 days. Then one more impulsive wave up, which is where Naz would attempt another 2K assault, if it holds onto support today. Of course, I think you were expecting a longer DJIA upward corrective wave. Maybe a bear flag sort of structure?

Just guessing. Not commiting funds to the concept yet.

BC
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