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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (69020)	3/19/2003 4:47:18 PM
From: Perspective	Read Replies (1) of 209892

I had the same question. Wave A was 36 days; we are now done with 24 days in NDX and 27 days in SOX, so the time is becoming comparable there. If C=0.618*A, we just need to retest the December highs on those two. However, non-tech made that minor new low last week before launching. Do you think that we may have a big "C" on deck in tech, accompanied by something completely different in non-tech? You recall that we had conflicting tech/non-tech counts into the October lows - looking like tech had completed something big and was therefore correcting a larger part of the bear. That would argue for a longer corrective mode in tech. Non-tech actually looked like it might be in a lower degree correction, which would allow for it to be done, pointed down, and this might just be a correction of the down off the December highs. We are now at the 62% retrace of that move in SPX. What do you think? Two totally different counts at work here tech vs. non-tech? If these two counts are in play, we would be very near the top. BC

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