Classic TA Workplace Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Classic TA Workplace

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Henry J Costanzo who wrote (128423)	1/25/2006 7:47:57 AM
From: skinowski	Read Replies (2) of 209892

There is a great number of ways how one may approach trading. Not a single one among them works always. I use - primarily - Elliott Waves. This means that I try interpreting small moves in light of larger ones, and I examine smaller moves for clues as to the larger events. As of yesterday, after 2 days of sideways action, SPX recovered about 38% of the wave 3 (or C) which started on Jan 19. Intraday, I can't find a single upwards move which would be interpretable as an impulse -- all are "threes". This suggests to me that we are in a continuation pattern. None of these things are ever certain. As I mentioned a couple of times yesterday, sometimes markets end up reversing hard right out of such seeming "consolidations" -- and this may well happen again. So, if I see SPX creating overlaps above the 1272 level - not all that far up from here - I'll start considering this possibility. BTW, NDX didn't take back even 38% (1697+) of the preceding leg down from Jan 19.... For the moment, it seems that the bullish confidence is recovering better and faster than the markets.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next