P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: Jeff who started this subject	1/16/2003 7:13:48 AM
From: Justa Werkenstiff	Read Replies (3) of 30712

Rally update. Reviewing what has happened so far, the rally has given 13% on the NDX trough to top. When I called this thing in the end of December, I noted that the average rally has been 10% under these circumstance and 13% is within the range and so nothing is unusual from that perspective. I have also noted but not posted that these rallies last an average of ten trading days from my reading to the top and this one has hit ten on the nose assuming Monday was the top. I have also noted but not posted that these rallies typically end with three days of distribution in a tight range --- I call this the distributional top. I consider Monday through Wednesday such a top. A higher high on the close from this point in the NDX would lead me to question my take. I expect this top to be a major one and have said all along that it would be a lower high on the NDX. In Elliot terms, this rally would represent the second corrective wave of a decline with the first wave being from the December 2nd top to the end of December and the corrective second wave would be this rally. Third wave to come.

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