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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	12/6/2005 10:36:49 PM
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IMHO broad market indexes today confirmed pullback from recent highs in progress.. Looking at SPX, would think we should see at least a .38FIB retrace of the Oct/Nov advance, settling back into support around the Sept tops and the rising 50d MA. Per my ED theory....which I have not yet abandoned....the Oct/Nov advance would be the first wave up of the a-b-c waves to be looked for in this final wave 5 up of the ED.... Also, likely IMHO that we've now seen the highs for 2005 in the major broad indexes.. Will try posting an annotated, updated chart manana.....

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