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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: At_The_Ask who started this subject6/2/2003 4:21:53 AM
From: J_K  Read Replies (2) of 41494
 
NDX E-Wave update:

wallstreet-online.de;

Durign the last two the NDX continued the uptrend with higher dynamic. The old mark for the yearly top 1.200 and 1.250+ comes closer.

After the index turned up at around 1.100 in mid May the decision for the mid term move was clear. The rise since the March low is a big wave C with the ideal target of 1.300.

Looking at a 4-9 moth time frame the NDX trades in upper area of the trading range. If the index does not extend the current up impulse Onischka expects falling prices over the summer and fall. Ideally this downmove should last exactly as long as the rise since October 2002 and should consolidate most of the gains down to 950.

Technical situation in the daily chart:
A sensible wavecount is to label the interim high of next week as wave 3. As long as the up-trend is valid a possible several day correction should be wave 4

Very short term: During the last sessions the index overbid the short term intraday targets of 1.178 and 1.192 significantly. Only the last target at 1.213 is not touched yet. The expected top in the second half of the week did not take place. The intraday chart show that the move from 1.103 is clearly in 5 waves.

The patterns from last Friday (second half) are corrective therefore Onischka expects new highs at the beginning of the week. The extension to 1.213 is possible.

A correction should bring the NDX down to 1.160. Only a dynamic dynamic drop through this level opens more room to the short side. A flat move above 1.160 for the rest of the week is very likely.

EUR/YEN:
wallstreet-online.de;

SOX:
wallstreet-online.de;

Kontakt: m.onischka@gmx.de

Regards,
JK
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