Ask da_cheif Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Ask da_cheif

MVIS 1.040

-0.5%

9:48 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: da_cheif™ who wrote (1144)	4/23/2001 2:28:50 PM
From: Chip McVickar	Read Replies (2) of 8150

Cheif, Care to comment on this ewave read...? ******* Looks as if the Nasdaq up-move since 4/4 was completed on Friday. Now we are heading south until the next pivot.... While almost all technical factors point to lower lows there is one strong counter-argument: the Nasdaq rally of the last few weeks is an almost perfect 5 Elliott waves up (= wave a of a zigzag). On the other hand, the Dow and the SPX show a clean zigzag since March 22 (the Dow still needs the 5th wave in the next few days). Thus it is realistic that the NYSE is taking out new lows while the NASDAQ can re-test the 4/4 low successfully. The two NDX scenarios for the next high/low: bullish 1600 (-19%) bearish 1150 (-42%) Market action during the next two weeks will reveal where the journey is going to end.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next