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

To: skinowski who wrote (36664)	4/23/2002 1:09:15 AM
From: heehee1	Read Replies (2) \| Respond to of 209892

This chart doesn't say neutral to me.. Although that doesn't mean we can't bounce a wee bit. stockcharts.com[r,a]daclyyay[de][pc10!c50!c200][vc60][iub14!um12!la12,26,9!ll14][J2638981,Y]&pref=G

To: skinowski who wrote (36664)	4/23/2002 8:48:09 AM
From: At_The_Ask	Read Replies (1) \| Respond to of 209892

I think Onishka has the same question we all have and that is, "is the downtrend over?" The down trend from 3-11 appears to only have two down waves. Internally it doesn't count very well as an impulse. An argument could be made that it is if one throws in some complex corrections. Yesterdays down could be called wave 5 down. The problem with fifth waves is that they can truncate, and not exceed the bottom of wave three. Being short at the moment I would prefer to see it continue on to the bottom of the channel, around 1300 or 1280. Unfortunately there is no way to calculate how far it will go. If we do go down it should be pretty exciting because where we closed yesterday two channel lines intersected and I would imagine a good many guys went long right at that point. Trapped traders panic selling is always fun. Looks like we've had a futures reversal. Anybody heard the news?