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

To: JRI who wrote (3531)	5/25/2001 9:56:12 AM
From: marc chatman	Read Replies (1) \| Respond to of 209892

It looks like we've seen 3 waves off yesterday's NDX lows (15 minute chart). Today's action broke the channel of the 3rd wave to the downside, leading me to believe this is a wave 4. I'm currently flat, but I may look to go short the QQQ's if/when we see the next wave up (of course, there is always the risk that we've seen only wave 1 of 3 up, so I will keep an eye on the other technicals before I decide to do anything). If we don't see another wave up, then I'll stay out for now. I feel it's generally difficult to trade the day before a holiday weekend (easier for money to move the market in expected light volume), so I may just leave it alone unless I see something good.