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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (127444)	12/23/2005 11:36:22 PM
From: skinowski	Read Replies (2) of 209892

MC, the only problem I have with that chart is that the upper line must begin from the top of your (big blue) "1". It is NOT impossible that the current toppy juncture may in the end prove to be the point "3" of a larger ED. Who knows, maybe this time around the market will decide NOT to make a top around the turn of the year, as has been case last few years. In that case, we'll go for a larger structure... that would mean another few months of, basically, ranging. But the larger picture seems toppy, anyway. For now, I am going with the assumption that we are in an overshoot of an ED - along the lines of the chart that Phoenix posted a few posts below.

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