MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who started this subject	1/1/2003 2:38:52 PM
From: tekie2k	Read Replies (1) of 19219

JUST FOR THE BORED... best i can do for now. MONTHLY CHART.. stockcharts.com scroll down to 10 year monthly compq chart. start at wave [1] and [2] back in 1994. that is correct according to ad get. when you get to [3] & [4], ad get has that as part of an abc correction. it does not label a [3] wave until 5200. so instead of topping at 5200 as a wave 5, it is topped at wave 3. i believe this fits better with what the market sentiment is. ie, a wave 4 down that is consistent psych wise with the great depression, but, again, this economy is hugely different than the great depression. so if wave 5 on this chart IS REALLY ad gets WAVE 3 (as it has charted it), that puts us down to wave [4] as of 3 months ago (at 1100) and heading up in wave [5] RIGHT NOW. again, imo, this fits better with the REALITY OF THE ECONOMY rather than the perception of the economy. imo, in order for this scenerio to be even partially incorrect NAS MUST BREAK DOWN BELOW 1280. if anyone is interested, ill break down below the monthly. if not, wont waste my time on further breakdowns. HAVE A GREAT NEW YEAR EVERYONE. MAY ALL YOUR SHORTS BREAK DOWN AND ALL YOUR BUYS RALLY. ed

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