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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (28892)	1/21/2002 2:10:00 PM
From: John Madarasz	Read Replies (1) of 209892

regardless it should be "up we go" as either count is set up for a turn up here...yes? One scenario... An apx 61.8 - 76.4% retrace in time and price on an NDX 60 minute from early Dec. would die right at the top line of Desc. Tri from the early Dec. highs, put in a lower high, be the fifth turn in the tri and be an extraordinary spot for the I/T fade into the FOMC on the 30th. I think this turn...if it gets that far, will lead to the 3rd test and cracking of NDX 1550 - 57... and falling out of said Desc. Tri. CRB looks BAD imo...retest of recent lows? Longer term Bullish %'s still have room for this scenario, rydex hints at it...hedgers unwinding after last week points up ST...what else? Pretty quiet week regarding economic reports...everything on the slate VERY spinnable short term... biz.yahoo.com

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