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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: OZ who wrote (14266)	9/24/2001 9:49:08 PM
From: TraderAlan	Respond to of 18137

Oz, No, I wish. Look at the NQ move from 1600 to 1100 and ES move from 1200 to 950. The gap on both cuts right through 50%. Dead giveaway for a 3rd wave. Means the 1st wave probably started on 8/02 and ended 8/22. Also means there is a 5th wave to come that will be equal in length to the 1st or 3rd. Hope I'm wrong and these two waves are 3 and 5. But I can't see anything else that looks like a wave 1. That long congestion makes it tricky. One strong clue: whether this rally can reach (doesn't have to fill) the gap. 4th waves shouldn't get close at all. 3rd wave continuation gaps usually are not tested until after completion of the 5th wave. Alan