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Strategies & Market Trends : Classic TA Workplace
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To: Jack of All Trades who wrote (25010)12/13/2001 10:32:45 AM
From: velociraptor_  Read Replies (4) of 209892
 
hard to say...we're consolidating at the low of the drop which suggests that more down is to come, and that means the new 5 wave series down just started because this is only wave 2 of 3 down from the high as I see it. The hourly is oversold and has been since yesterday though, of course it could stay oversold. I also don't like the large gap down, but as long as we stay near the lows, the odds favor the down break for now.
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