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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (133498)	6/9/2006 9:34:37 AM
From: Moominoid	Read Replies (1) of 209892

Anyway, I think more down in the very short term is ruled out. Basically the question is how long up or sideways action persists: 1. We are in a C of a flat or Y of a double three. After that there is another impulse down to complete a zigzag on SPX. Given the tech indices have complete 5 waves down I think they need to spend more time going sideways up before correcting, so I'd give this one a low probability. 2. It's C of a broadening triangle triple three. after that the next impulse down. More likely I think. 3. The SPX completed a zigzag or other type of correction and now we go up in a wave B or X (my most likely scenario) or a new bull wave (less likely).

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