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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject	3/19/2003 5:33:30 AM
From: J_K	Read Replies (2) of 209892

NDX E-Wave update: wallstreet-online.de; Since the start of the week the index rose significantly above the old resistance at 1.030/40. Since Monday the break of the downtrend was significant. So far no correction of the rise happened. The break of 1.030+ (on daily basis) is a positive trend-signal. Therefore Onischka thinks that at March 12. the wave e of E ended at 947 and the NDX is in a wave C that ideally should produce prices up to 1.300. On the daily basis the alternate count is still a wave B of (B) since mid February as flat. In this case the NDX should make a significant down impulse instead of a further rise. Very short term: Currently it is hard to tell in which impulse the NDX trades. Yesterday's consolidation might be a wave 4' and therefore the rise since 947 might end today. As long as the NDX trades above 1.066/67 another upwave might bring the index to 1.009/1.100. After that a stronger correction should follow. A preliminary break of 1.066 will start the correction sooner. The first downside target is the support at 1.040 (less likely later 1.015 and 997). Feedback: Mathias Onischka (elliott@gmx.net) Regards, JK

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