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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject	6/28/2002 10:15:40 PM
From: At_The_Ask	Read Replies (1) of 209892

At the risk of sounding like GEM-X, here is an extreme non wiggle count for everyone to ponder. The action on the NDX and comp since the Jan high has formed a wedge of some type. Unless it breaks to the downside I would anticipate a sustained rally lasting several months perhaps regaining comp 3k. I count the entire down from the all time highs as five waves with the fifth being this wave as an ending diagonal. It's kind of an extreme forecast but I think it's plausable enough to mention to the thread. If I'm not mistaken this would also mesh well with the Tommybear count. If I remember correctly he was calling for a 5-3-5. The alternate would be that it breaks down from this wedge becoming a leading diagonal. Even if one makes a case for an ABC down from the ATH, followed by an ABC flat starting at the spring 01 low, the presence of a wedge in this position would not be correct except as a leading diagonal or as a complete B with a C up to come. Welcome back BTW. ATA

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