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Strategies & Market Trends : Classic TA Workplace
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To: Jack of All Trades who wrote (117659)4/26/2005 8:49:54 PM
From: skinowski  Read Replies (1) of 209892
 
As Freep said, this formation may end up tracing out a triangle, and that would be fitting as wave 4. But it may also form something else... If it goes down tomorrow, the consolidation may have been a wiggle double zigzag from Apr 20 low.

Note that the major indexes closed not far from the trendline out of that Apr 20 low. If the action in AM starts out bearish, I think it may mean that the next leg down may have started at today's high.
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