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Strategies & Market Trends : Classic TA Workplace

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To: Abner Hosmer who wrote (66729)	2/18/2003 10:45:50 PM
From: Shack	Read Replies (1) of 209892

What I'm looking at is an ending diagonal culminating in a throw-over on Thursday morning, followed by a strong reversal up Yup, sure could be Hosmer, I can certainly see that and I wish I had been around to play it that way. I am still 50-50 that this is what we are seeing though, still thinking we are just as easily in a 'c' up here. and I think it adds up to danger for those looking at this as a quick correction I think everything since about Jan 27 is potentially corrective. Beware of those 9/1 up/down voume days as well, they are often blowoffs, We saw the same thing happen in early to mid-January and there were a lot of bulls screaming about it then. And let us not forget how crappy overall volume still is right here. Its 'corrective volume' IMO. Sentiment did indeed get more bearish this week but this Investor's Intelligence chart still has us fairly neutral: vtoreport.com I agree Rydex is extreme but it always seems to be able to get more extreme. I am curious to see it tonight after today's squeeze.

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