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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (145613)	6/14/2007 10:20:21 AM
From: The Freep	Read Replies (2) of 209892

The wiggle count is pretty darn clear, MC... though not clearly right! Basically, ski and I are wondering if the move off the top was either A or 1 down. Now we're in 2 or B which took the form of an ABC. This is the C of B... quite a strong and impulsive C at that! Still, it being a B, that means it can break downtrend lines/make a new high/whatever it wants. Certainly this morning's strength is stronger strength than I'd've expected, particularly right off the bat since wiggle wise I'd've rathered flat and a spike... and also had us quite overbought. Conversely, as noted, the move off the highs was the entire correction and we're now in a iii/3 up of something or another. It's still not my favored.... It being the end of expiry week, maybe we shouldn't expect much more movement in either direction for a spell? Choppy consolidation that can be interpreted as bullish and bearish would frustrate the most!

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