CFZ E-Wiggle Workspace Message Board

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Strategies & Market Trends : CFZ E-Wiggle Workspace

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To: skinowski who wrote (4462)	1/12/2006 8:00:00 PM
From: skinowski	Read Replies (1) of 41478

PWTS -- Pullback Will Tell the Story SPY 10 min offers a fairly clean view of a three wave decline off the top. Is it a pullback or a reversal? A rally from this level to above today's intraday high (129.28) would confirm the decline as a three-waver. If instead the index makes new lows tomorrow, it will begin to look like a wiggle impulse down. The advance off the Jan 3 low did everything needed in order to look like a completed impulse. The entire move looks somewhat "squashed", since both (putative) 3rd and 5th waves combined equal only ~78.6% of the 1st.

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