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Strategies & Market Trends : Classic TA Workplace

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To: orkrious who wrote (26815)	1/6/2002 12:27:21 PM
From: AllansAlias	Read Replies (3) of 209892

It goes back to the idea that this rally is in fact not a turn in the market at all, but only the rally we should have gotten anyway in mid-September. I posted charts showing this back in November. To summarize: I believe that the previous Mar/Apr lows marked the end of the first leg of the bear market. Let's call that down the 'A' of the bear. The rally into May/2001 was the start of the 'B' -- the 'a' leg. The decline into September was only the 'b' of that large 'B' correction we are in. It would have turned well before the price we set had it not been for 9/11. No matter, the decline in question was only a 'b'. The mistake folks are making is seeing it as a new important low that marks the end of the first leg of the bear market. Even Prechter thinks this is so. The current rally is the 'c' of the 'B' we are in. It has the personality of a 'c'. It will end not far from here. We have had a large 'A' decline into Mar/Apr of 2001. Since there we have been stuck in a 'B'. What we will get next is the 'C' down. So then, I am basing my targets for this push on the notion that we are only in a 'c'. That gives me a price target that is close to where we are now. All mho of course.

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