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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (115882)	4/2/2005 9:28:41 PM
From: skinowski	Read Replies (1) of 209892

NXTL - I am not sure, I think it is set up to go either way. The stock may have completed 5 waves up since the summer of 2002. The count is fairly straightforward: W3 ended in January 2004. The (possible) W5 since last summer equals 78.6% of W1. Together, W3 and W5 equal 162% of W1. These are curious, and possibly meaningful relationships. On 120 min, the decline since Jan 3 top looks rather impulsive, and the following rally was a "three". The stock might be close to starting a large acceleration down. Of course, this year's action could also have been a bullish consolidation. Imho, the setup is very interesting, but I'd watch it for now.

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