Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: Galirayo who wrote (921)	6/11/2008 8:00:32 PM
From: skinowski	Read Replies (2) of 3209

More on counts. As shown below, INDU is sporting an impulsive looking decline since May 29 - except that it contains an overlap. This would be characteristic of a Leading Diagonal. If so, then WHAT does it lead? What is it trying to tell us? One possibility is that in fact it may be the opening move for an upcoming 3 of 3(or C). That would be a rather bearish view, suggesting that the true Wave of Recognition for this stage of the Bear market at this time is only setting up. That said, everyone with some experience in this game knows that setups for big moves.... seldom work out. Gotto be careful out there.

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