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Strategies & Market Trends : Classic TA Workplace
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To: Moominoid who wrote (136824)9/27/2006 7:32:21 AM
From: skinowski  Read Replies (1) of 209892
 
Yes, it looks this way... Also, looking at SPX from the July low - with the idea that the action may have been an ED - I notice that above 1345 the (putative) 5th would be longer than the third (the third being from Aug 10 to Sept 5).

So, that would be one more argument that the bears are wrong... despite the shape of the advance, the overlaps, etc. I still wouldn't chase the price, but would start looking for pullbacks and potential long setups. As old timers used to say, trade not what you think, but what you see.

Or, as our own AllansAlias used to say, being wrong is not expensive, but being stubborn is.
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