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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Bull RidaH who wrote (47192)	5/1/2000 1:54:00 AM
From: Death Sphincter	Respond to of 94695

David...here is where all this crap is coming from. A monster move on NAZ from 1357 to 5132, a close examination can make a case for the 4th wave of this move occuring in the rising triangle area of the 2200-2800 range, followed by a parabolic 5th. Then bombs away. However the whole decline has bee met with a ho-hum, "would you look at that" attitude...where was the panic of a bottom? where was the put/call ratio? where were the end of the world proclamations? When the indexes have a big move down they like the the Fib .382 and .618 or the non Fib .50 since I don't think it's the end of the world, lets just consider the wave from 1357-5132 = 3775 pts. .382=1442....3690 level .50= 1888....3244 level (could be)(where's the support?) .618=2333....2799 level (this would be filling some old gaps and getting into the 4th of the previous wave, a VERY Elliott place for a retrace to seek and some serious support)..... we could be looking at an ABC down with the C being a steep ending diagonal(like the SP500 7/20/99 to 10/19/99 that you tracked, only steeper)with A down from 5132 B up to 5k and C down with 5 3's. 1 was long to 3600ish 2 up to 4500ish 3 down to the low 3227 now 4 up???and .618 of 3? 3900-4000ish? in this case 5 not to exceed length of 3 or ABC down to 3600ish....then ABC up to 4500ish...and down from there as a C wave? lots of variables, of course I just didn't think 3200ish had any compelling 'profiles' for a bottom (DOW and SP appear to be different animals and could very well hold their recent low areas, DOW MUST to stay intact as impulse up from 9731, SP can slide below 1340, but this is another boring story and I've probably bored you to tears already) and that is why I am still naked,stinking, and boring but get down there and I will shower,shave,consume Beeno and break out the Glue bong for another run before some REALLY BAD FUMES start oozing out of my pores