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Strategies & Market Trends : Classic TA Workplace
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To: Shack who wrote (57226)10/21/2002 3:00:05 PM
From: Killswitch  Read Replies (1) of 209892
 
It appears more likely to me that (in non-E-Wave terminology) SPX (or DJIA if you prefer) had a sharp move up into Oct 15, and since then it has been forming a pretty real looking bear flag. Chart:

personalpages.bellsouth.net

(just ignore all the lines except for what is going on in the upper right)

If that plays out then we either do the expected break down from it at roughly 880 and then take a shot at the expected target move of 110 pts down, or we get a hound signal by breaking out the top of it.
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