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Strategies & Market Trends : Classic TA Workplace

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From: Moominoid	1/28/2007 10:26:34 AM
	of 209892

My NDX count as it stands now: rpi.edu rpi.edu rpi.edu This scenario suggests that we have topped out on a zigzag wave up from the 2002 bottom. Most likely is that that is the B wave of triangle type correction. Most foreign stock markets and US smaller cap stocks have made 5 waves up since the 2002-3 bottom. Zigzag corrections down would make sense there too. FA: Valuation of stocks does not seem very extreme and the potential upcoming recession/slowdown neither looks like being extreme. Therefore, the bear market is not likely to be severe either and I expect the 2002 low will hold. In fact I doubt we will get anywhere near it. Back to TA: In the next few days I expect to see a wave C up in the current correction. My model is long through the end of the week in the current forecast.

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