Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (11044)	12/6/2001 9:30:18 AM
From: velociraptor_	Read Replies (2) \| Respond to of 99280

Gem-x was wrong then and the call for a new bull now is more wrong than he realizes. This was a bear market rally and the wave count is obvious now. The current 5 wave move is an ending diagonal on the indexes and since the rise broke through the 10,120 low and the 1163 low on the SPX, that means the last decline from late May through Sept is complete. The break negates this rally being a 4th wave and with the last decline being only 3 complete waves, that means it is part of a correction. The thing is, corrections NEVER end with 3 waves, thus it has to be the middle wave of a correction. They are part of a 3-3-5 flat or a 5-3-5 zigzag. The current 5 wave rally puts in the last wave of the correction. The next major move is likely to be a very strong 5 wave down impulse. The lows will be tested.