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Strategies & Market Trends : Classic TA Workplace

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To: Paul Shread who wrote (50029)	8/14/2002 3:01:55 PM
From: AllansAlias	Read Replies (2) of 209892

If we are in a 'c' up to that 1007 area, then this morning's low should mark the beginning of an impulsive move. (The 'c' wave of an a-b-c counts out as a 5.) So, off this morning's low, looking at a 15min chart or so, we see 1-2-i-ii-iii What we are seeing is acting like this is right and we are watching a 'iii of 3'. Following tis along, we'd look for a wee bit o' jello for 'iv of 3', then a new high, then bigger jello for '4', then the end of the move with the '5'. It was a very nice turnaround that looked bearish right up until the intradays broke upward out of apparent bear flags -- hence, the Hound signal.

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