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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (83008)	9/27/2003 7:29:45 PM
From: skinowski	Read Replies (1) of 209892

That's a very clean count. I thought the same thing, and yesterday before the close did a little hedging for the likely bounce. True - if this micro wedge turns out to be some sort of a running consolidation, we may get an acceleration down. Don't forget that the advance since 08/06 counts well as a 5-waver, which makes the theory of a Flat starting in early September unlikely. As for the larger picture - who knows? Japanese markets spent many years tracing out multi-month wiggles up and down. US markets did something like that from late 60's until the early 80's. Even if an important top is already in, that doesn't mean that we go to any crazy low levels (right away -g).

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