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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (128407)	1/24/2006 6:35:47 PM
From: skinowski	Read Replies (2) of 209892

Precisely. Couldn't have said it better myself: We'll go either up - or, down. ;) The action of the past couple of days certainly does look like a bearish consolidation. Otoh, one must remember that the larger trend is still up, and that the decline of the last several days is so far only a three-waver. Moreover, as I mentioned in the post to the-phoenix below, some of the powerful recent rallies started out of choppy looking ranges - which looked to the whole world like bearish consolidations. Ever since early 2004 just about all down moves ended up being corrective three-wavers. On this one the the jury is still out... in fact, it will be interesting if we get another wave down. Maybe that will mean a trend change "for real". We'll see (maybe tomorrow, but certainly - this week)

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