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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (3663)	5/29/2001 10:59:23 AM
From: Perspective	Read Replies (1) of 209892

Was debating whether or not the 5 of this 3 would be worth trying to catch. After waiting for that last 5 of 5 up and getting burned, I'm a little less aggressive about last waves. However, I've concluded that the 5 of 3 is probably worth it. There is enough TA to support the 5 being a good move. Smelly now with a failed double-bottom and broken TL gives an excellent place to roll out of a 4, and SPX still has the broken H&S to fight off. NDX should give up 1900 decisively in wave 5 of 3 of 3, which should be worthwhile, to say the least. <g> Will try to ditch my long-side hedge for a Bud over the next few hours. The wave 5 could actually launch around 2:15PM today. I got ahead of myself of the count; I see us in 5 of 3 of 3, not 5 of 5 of 3. BC

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