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: Jeffrey S. Lillie who wrote (26183)	1/25/2003 12:53:33 PM
From: ajtj99	Read Replies (3) of 30712

Jeffrey, if this is a 3rd wave of a 5-wave drop, that scenario is quite impossible. If this is the 2 of 3 of 1 off the 1100 highs, we should rise probably no more than 15 NDX points on this bounce. The next drop should take us down to around 938 if we bounce to NDX 1012 and drop 1.618 x 46 (wave 1 of 3). Bollinger bands are a concern, as the lower one is around 970 NDX. However, if you look back at last January and February, we pierce those pretty good if we're going down. The bounces do not pass the 13-EMA on the daily, and the drops are somewhat relentless. We'll see how this turns out. If this is a 3rd wave down, it will be wicked bad mid to late next week.

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