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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (16656)	10/16/2001 11:13:10 AM
From: AllansAlias	Read Replies (2) of 209892

The new high in tech this morning, the putative 'b', gets me to thinking. I find it a little high for a 'b' based on the marginal new highs one normally sees for a tech 'b' in a 'flat'. You know I am always wary of the 'whipper of whippers' when we get to what we think is the end-game of a move: the 'ending diagonal'. We could have one here on the NASDAQ. * the '4' preceding the diagonal would be the slide into the Oct 21 low. * since then we can count 1-2-3-4 This morning's high would be the top of the 3 and the current decline is the 4. * this would imply a new marginal high by tomorrow latest Anyway, this is just something to keep in the back of our minds in case the jello gets real stiff and we are wondering what's going on. A new low of any significance, vis a vis this morning's low, and this scenario dies.

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