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Strategies & Market Trends : Sharck Soup
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To: velociraptor_ who wrote (14919)4/5/2001 1:42:06 PM
From: marc chatman  Read Replies (1) of 37746
 
Raptor, does the prospective turn today have any relation to the major turn expected tomorrow?

If the market turns lower at 2:30, does that suggest a major turn up tomorrow?

Here's one thought to consider -- the entire move in the dow from early yesterday until now has unfolded in 3 waves; there is some possibility that this is all part of wave A, and we could get the 4th and 5th waves today to complete A, possibly in the next hour. That would allow a B down and C back up to retest these highs (or possibly a truncated C so that it doesn't break the upper channel line on the daily chart), concluding tomorrow.

This is just speculation, of course. There is not much more room to go before we break through some serious resistance.
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