SI
SI
discoversearch

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 : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?


To: The Freep who wrote (27348)1/10/2002 12:04:54 AM
From: Shack  Respond to of 209892
 
Freepie, in the short-term it is way up in the air for me. However, when I am confused by the COMP/NDX wiggles, I turn to the SOX which seems to always count clearer.

I have a couple of ideas but my preferred is this map:

marketswing.com

Means we get some down now through expiration roughly. A similar count can be made for the COMP but its not as pretty.

However I have many alternates. One is that we are in this lower degree 5th wave still which is an ED off Dec 8th. Almost any down will negate that so we would have to turn up immediately. Another is after 5 waves down, the correction off Dec 4th is done (some kind of expanding triangle) and we head to new highs in the 5th wave. Line in the sand for that is COMP 2000

Like you said, the next play is to short the next pop for a 5th wave down (tight stop in case my alternate ED is in play) and then to play the bounce long. Then we'll know what's what.