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To: Perspective who wrote (16878)10/17/2001 2:15:39 PM
From: AllansAlias  Read Replies (4) | Respond to of 209892
 
Gut-check time for the s-t bears:

BC, we have what looks like 3 waves down in a bullish falling wedge that we have now broken out of. This is the old inflection point: are the 3 waves the end of an a-b-c correction and we go to new highs or are we just building a wave 4? (I'm not actually asking.)

The putative wave 1 low is around 1700 on COMPX. We should not violate that by very much if we are pointed down.

On the SPX, the putative wave 1 low is 1091 and we are very close to that now.



To: Perspective who wrote (16878)10/17/2001 2:44:46 PM
From: JRI  Respond to of 209892
 
I assume you are still looking for the 1335 NDX (about 1660 COMPX) as the end (before corrective bounce)..and that the earlier 1344 NDX low did not suffice? IE. We have not begun the biggest correction

My thought is that we are going to about 1695 here (to finish 4), before turning....likely close near lows (or 1/2 way between 1695 and 1674), gap down morn (to 1660, which will get covered and launch corrective)...


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