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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (139098)12/1/2006 4:25:30 PM
From: frigengenius  Read Replies (1) of 209892
 
SPX: This move from last Friday looks like a 4th wave down abcde diagonal triangle. Today I think we finished wave c down and this last bullish push towards the end of day is leg d up.

So I expect d up to finish next week, followed by a short and sweet wave e down. Then its off to the races with wave 5 up to complete the entire bullish move from July '06.

Be warned that wave 5 may very well be short or truncated. Trade cautiously. I am looking for a target of 1420 in SPX cash.
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