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Strategies & Market Trends : The Swamp
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To: TheSlowLane who wrote (48)10/13/2007 2:01:43 PM
From: SwampDogg   of 491
 
Thanks
Looks clearly to be a massive A-E consolidation with huge bullish LT implications for the whole market. Great thing is all one has to do is watch and wait to see which way it wants to go. It probably wants to move back to the MAs over the next month or so and then move on out. Target would be in the $70 range which would make sense wave wise as it would probably be a 'C' that would test the Wave 1 low of the tech bear.
In other terms the semis look to have formed about as large a cup and handle as you will see.

There is only one bearish alternate and it would mean that tech is going to pretty well zero. Very low probability but the charts will tell which way to go , no need to anticipate this one
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