CFZ E-Wiggle Workspace Message Board

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Strategies & Market Trends : CFZ E-Wiggle Workspace

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To: the-phoenix who wrote (5692)	2/4/2008 6:36:41 PM
From: skinowski	Read Replies (1) of 41443

I could live with this as a bearish count. In this case the orthodox low of the bear market up to date would have to be the Jan 22 low. It is possible that those two sharp declines (B and b on your chart) are in fact a Running Correction (check also the post to which I am replying): Message 24275020 This is plausible, since the rally since Jan 31 seems to be impulsive. In this case we may be in Wave 2 of 3 (or C). That's rather bullish. A decline below 1357 and 1347 (62 and 78% retracements of Jan 31 rally) would severely damage this bullish view. If the S-T uptrend is strong, it shouldn't go this low. Heck, I can even see that the entire wedge-like structure from the Jan 23 low may turn out to be a Leading Diagonal. In this case, bulls may get screwed, and then after that bears too.

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