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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (38645)	5/9/2002 6:01:53 PM
From: ajtj99	Read Replies (1) of 209892

Shack, I'm in agreement with you. I think the B ends at the gap at 1625 COMP or 5-points above it (just to screw with us). Be on your guard. Whichever index hits the gap first (Dow, SPX, NDX, or COMP) will cause the bounce, IMO, regardless of where the others are. I don't think they let us get into the gap, as that would be showing weakness, and they want to take this up again next week and possibly take out this week's high. That said, I believe lots of sector indices may get into their gaps as they will be weaker than the big indices or just more volatile. We'll see how it happens. This is one of the easier set-ups I've seen in a while if it plays out this way. Tomorrow AM we have a falling wedge on the 60-minute that should resolve to the norm (up) before we continue our march down. The drop today was precipitated by the break of the rising wedge at the open this AM. Pretty easy to see on the charts.

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