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Strategies & Market Trends : Classic TA Workplace

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To: J_K who wrote (30883)	2/12/2002 8:56:48 AM
From: AllansAlias	Read Replies (2) of 209892

Today should be spent correcting the up-leg from Friday/Monday. I closed my long yesterday late in the session, but I will be looking to reenter today or tomorrow, as the odds favour us getting at least a brother up-leg. Futures are well off. If this does indeed gap down and gets bought right away, I will short it for a scalp. As a minimum, NDX should retrace to 1450, the area of the wave 4 of lesser degree (i.e., in the up-leg) as well as the 38% retrace area. I think it will be deeper and am looking for 1430.

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