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Strategies & Market Trends : Classic TA Workplace
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To: Henry J Costanzo who wrote (138279)11/7/2006 3:12:28 PM
From: skinowski  Read Replies (2) of 209892
 
Major indices so far look like three-wavers counting from Friday's low. INDU reached new highs, others didn't. The induces are quite likely setting up for the 5th... One problem I have (with your target) is that any way I look, the 1st on SPX is longer than the putative 3rd... which would call for the 5th (if and when it happens) to be rather small.

But then, of course, the entire run since Friday may prove to be only the 1st of a larger advance.
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