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

To: Challo Jeregy who wrote (3846)	5/30/2001 10:55:30 PM
From: AllansAlias	Read Replies (3) \| Respond to of 209892

From the weekend update: I think we'll see these indices [NYA and SPX] decline significantly in the next week or two to at least the SPX 1230 level. I have not changed this opinion and think we'll hit this area on a wave 5, very likely next week. Anyway, we can see that COMPX has overtaken the Sep/00 downtrend line but stalled at resistance near 2250. Will it turn and give up the breakout? I doubt it. I think it more likely that it will retrace along the downtrend line. It is just under it now and better freakin' bounce tomorrow or we have a new ballgame. My only concern vis a vis my estimation that Tuesday will give us good down early is that GE looks like it wants to correct (up) a little more before resuming down. GE did open strong on Tuesday, but hey, it came around to the dark side quickly enough. -g Pretty well all the warnings on the little charts at the end of the update were concerning individual stocks have acted as expected. Of the stocks discussed, only MRK/DRG.X has shown some bounce. The only thing I would change in that update is a reminder to myself and everyone not to underestimate a 3. It's a lesson I never seem to learn. Now, as for the bounce you spoke of to 2250, I am not sure what you are referring to. Could you point me in the right direction? Cheers (From geocities.com