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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (117661)	4/26/2005 9:34:55 PM
From: Shack	Read Replies (4) of 209892

Well for non-tech the simplest and most obvious count here is that the XMI is in a (4) up. The (2) lasted 7 days in late March/early April so we can expect this jell-o to extend a little while longer and since the (2) was pretty flat, this wave should be sharper. After that we would get the 5 down. There remains the possibility that the impulsive down extends although I severely doubt that now. But I think a 5 down will not carry all stocks to new lows. Like that KSS chart that I posted for instance (which to me looks like it launches right here). However other indices show overlapping already so who knows.

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