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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (94430)	4/6/2004 9:59:17 PM
From: SwampDogg	Read Replies (2) of 209892

This rally off of the late March low looks exactly like the larger rally since Oct '02 in a smaller time frames. I see both as probably Wave 2 retracements in 3 waves with deteriorating breadth and momo. This looks like the tail end of a terminal move right here and a break below 10,500 on volume will confirm. Pretty easy to tell as we should get a 3 of (3) down starting in the next week (if not tomorrow). Hard to mistake that... $RUT was nowhere today and it still refuses to break higher as does WMT. This is not bullish and there are pretty good shorts with obvious stops available here. Interesting that TASR finally looks done today although I would not touch it either way.

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