as far as i'm concerned....nothing has changed.....
retrace held......it still holds all the answers as to where we go from here.....
and we all know where that is.....
as far as this week.....we made a DT just like march.....gapped down from it....and after that march top we went on to fall to 1560 from 1946....nearly 400pts.....retrace shows the next fall to be near 400 pts also as we bleed to a 1000 october bottom.....
all those DT'S have to break for this rally to ramp any higher.....it will be easy to spot.....1459 major t-q still in place and not even threatened....
monthly chart tells all....we are now locked in that 150-200ma channel.....
stockcharts.com[h,a]maclyiay[d19950824,20020824][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
spx "pierced" its 150 trend line....it will be next to get into that 150-200 channel as nasdaq falls under its 200.....
stockcharts.com[h,a]maclyiay[d19900824,20020824][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
so we know where the potential bottom is.....and we just marked another top with an inside march like DT.....
back to the retrace and 3-1 count.......
stockcharts.com[h,a]daclyiay[d19960424,19970201][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G |
