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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (1415)	5/1/2001 6:37:03 AM
From: Clappy	Read Replies (1) \| Respond to of 209892

Allan, I was looking at your XMI chart and then tried to look it up on Stockcharts.com. The ticker must not be $XMI or XMI for their site. I was interested in what the conventional TA indicators read. Perhaps a hint could be given as to whether we had "i" or "5", by reading MACD, slow/fast stochastics, Williams%R, RSI, etc. When at a fork in the road, sometimes it's good to use a different map to help see clearer. Do you have a symbol for that index or does stockcharts.com not recognize it as an index? -ClapOff

To: AllansAlias who wrote (1415)	5/1/2001 9:18:52 AM
From: Shack	Read Replies (1) \| Respond to of 209892

Your count looks correct. Nice work. Under your two scenarios (5 or i1), what are you calling the entire 5 wave pattern? IMO, it is either an "A" or "1" Whatever it is, it will correct at some point before we can determine if it is a bull or bear rally. In other words, expect a return to 1000 or so before the next major leg up, bull or bear.

To: AllansAlias who wrote (1415)	5/1/2001 10:27:36 AM
From: Perspective	Read Replies (2) \| Respond to of 209892

The only problem I spot with that count is that wave (iii) of 3 is the shortest of (i), (iii) and (v). I would propose the following minor mod: geocities.com I would also say that, if the Old Eco five waves are done, that the first corrective upleg will probably retrace most of our first leg down, as we bounce off the lower TL, producing another peak very close to yesterday's. That would provide an acceptable cycle turn that is a high. The cycle high doesn't have to be THE high, just a major turning point. Keep in mind that these turn dates come off a daily chart, if I'm not mistaken. Therefore, you must step back to a daily chart to view the proper perspective. If we lodge a high today anywhere near yesterday's high, it will still look like a significant high was produced in the middle of this week. BC