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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (136203)	9/6/2006 2:11:54 PM
From: bcrafty	Read Replies (2) of 209892

mc, considering that nobody has offered a valid (without overlaps) bearish count on SPX off the June low, your bull count is quite viable IMO. Although I feel uncomfortable being strongly bullish here because of August-September traditionally being more bearish than bullish, one still shouldn't forget the major low we saw in 8/04. And although various counts on SPX and some of the other majors are open to quite a bit of interpretation now, one thing always remains true: if one wants to be bullish, go to where the bulls are. For instance, there seems to be no absence of them for the last year on the two charts below. stockcharts.com stockcharts.com On a more bearish note, however, for those that subscribe to the notion that there can be no significant index-wide rally without the SOX, Alan Farley does a little TA and E-wave in his gloomy assessment of the SOX and selected stocks. thestreet.com

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