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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (125252)	10/20/2005 8:44:47 PM
From: skinowski	Read Replies (2) of 209892

XLE - looks like 2 mighty moves down, the first one ending on Oct 6. The second one so far is ~78.6% of the first. Could be an ABC, with the "C" looking rather wedgy, having done an "overshoot" this afternoon. Today's low tested the highs of last March... as it retraced between 50 and 62% of the rally since May. Who knows, maybe the waterfall in that sector will begin finding a bottom.

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