Here is a translation of Onischaka's analysis (as posted by Juergen). The translation site I used is babelfish.altavista.com All you have to do is include the url and it does the rest. <eom>
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Also in the session of yesterday remained the NDX below the very short term resistance zone at 1.480 points. Despite initial weakness the index in the in consideration of the negative, technical surrounding field could keep itself still relatively stable.
On view of some commercial days on Tuesday to the commercial center the technical situation decided. Here the index trained only a corrective upward motion up to the minimum target (38 per cent Retracement). It did not succeed to exceed crucial resistances, which would have released further gains. In particular the completion of this correction sample (Flat) at 1.496 points leads to clear Abwaertspotenzial.
Wave-technically, despite the impulsive rise (that normally bullisch to analyse is) until Friday passed week, the high is counted with 1.561 as terminator point of a Expanded Flat correction. It concerns the Wave ii ' of 3 ' (alternatively: b '). Since that time thus the Wave iii runs ' from 3 ' (alternatively: c '), which should lead for next days to strong losses.
At the past estimate of the course targets nothing changed. The minimum target (62%-Retracement) at 1.430 points was achieved yesterday almost. Deliveries to 1,391 (100%-Ausdehnung) would however not be surprising, particularly since from technical view even losses into the lower 1.300-er area are possible.
Very at short notice the Rueckggang of yesterday up to the Intraday low was however no constituent of an impulsive trend movement. The three-ripples are good in the Intraday Chart to detect. Theoretically one could detect a complete downward abwaertsfuenfer. However are unusual premises (for example not extensierende Wave iii ' ', failure Five etc..) necessarily. The small rise in the second commercial half was likewise corrective. It concerns a Flat correction with an expanded Korrekturwave c ' ' '.
These very short term samples lead thus to the result that since the Tuesday low complex, assembled correction is developed. It is even an important note on the fact that an intact downtrend is present and further losses to be expected is. A tri fishing sample is actually situated concretely because of the only three-part Subwaves on the hand. That would mean that the NDX looks upward after a non-uniform initialization briefly. However in the first commercial half with scarce over 1.460 counters the Intraday high is already marked. Only in the second session half the trend dynamics strengthen, so that clear kursverluste follow. In to what extent this rise trifishes however actually constituent one is remains for the time being openly, since such a sample destroys the wave COUNT of a Hauptantriebswave 3 '.
Resistances: Beside o.g. Target area at approximately 1,462 points is at 1.473 points a further Resistance. Together with the past course area with 1.480 an only with difficulty surmountable price level results thus there. The ' last ' correct resistance would be to be constituted then only with 1.496/97.
Market technique: The market technique within the short term Intraday area is neutral at the moment. Partly existing downward tendencies let the loss page praeferieren however.
Author: Mathias Onischka , 13:55 07.02.02 |
