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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	3/9/2007 12:23:21 PM
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My best guess on the current market postion Nazdaq 2243 bottom. stockcharts.com The chart above is a 10 minute chart and I have labeled things that I think are currently correct. Elliott wave is a subjective art. Many different counts are possible. Lock 10 wavers up in a room and you will get 11 different counts, someone will have two. But when the count is over there WILL BE A COUNTABLE COUNT. If a traders adds some other skills with the count they start becoming more believable. Congestion Centers are on of my favorites and the current trend may be working on the congestion center as we speak, I have circled it with a blue circle. If this is the true center and the count is near correct on the chart wave five should and could end up around the 2243 area as marked on the chart. If this happens near the end of the quarter March 31. It may be a reason to rally back hard. Or if it ends near Tax day April 15. Or near the Equinox cycle March 23. So there are many significant dates that have the power to reverse a down trend that are very close.

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