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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (139879)	1/3/2007 5:09:41 PM
From: skinowski	Read Replies (1) of 209892

INDU is very interesting... Today is "eligible" to be a perfect completion of an ED on the hourly since the low on November 3. SPX could be in the same situation, but only assuming that the 5th wave is utterly failing. Otoh, SPX could be seen as (possibly) completing today a bullish Flat starting from Dec 18 top. NDX is tough. On the hourly, it appears to be - likely - in a complex correction starting at the Nov 24 top. It may have finished today. A very bearish possibility of a series of 1's and 2's (of 3) starting on Dec 18 is also still open... but should be considered unlikely... to say the least. Today's high is probably key resistance in the short run.

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