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Strategies & Market Trends : Classic TA Workplace

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To: wave3rules who wrote (134313)	7/13/2006 11:27:47 AM
From: Henry J Costanzo	Read Replies (1) of 209892

Welcome, wave3........Hope you'll stick around...... I am NOT the best person for you to address those kinds of questions to....but maybe someone more expert than I will weigh in on them. I do not try to count the DOW...which I have always sneered at as a defective index.......price-weighted, of all things!!.... But....I would definitely NOT agree that we're still in the bear market that started in 2000.....I don't see any basis for drawing that kind of conclusion from the charts......plain old TA, or EW.....nor in the (whisper......illegal here.....fundamental background...LOL). In general, I think the 2000-2002 decline was corrective.....and that we have resumed a long-term impulsive up.....which may still be in its early stages.....That is not to say, however that we could not see a major corrective decline in the relatively near future....later this year, ot into next year.....

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