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

To: ajtj99 who wrote (37487)	4/30/2002 10:40:27 PM
From: Doppler	Read Replies (2) \| Respond to of 209892

I see nothing to suggest this will be a sustained rally. The weekly charts do not support it. At this point nothing would surprise me, but I'm curious why you think the charts don't support more of a move. From an Elliot standpoint if we are in a flat on the weekly charts then we could go back to approximately 1175 spx which is a nice healthy 10% move from here. And, if the flat is over this week (which is possible) then the brother leg "C" to the move off the Sept lows is coming. Even a 62% move there is in the 1200s on the SPX. From a regular TA standpoint I also think we could have a decent rally here. stockcharts.com[h,a]waclyyay[pb10!b30][vc60][iUb14!La12,26,9!Lp14,3,3]&pref=G In the last year, the minimum rally on the weekly chart when the stochastics turn up from oversold is 9-10%. I'm a card carrying bear, and I see conflicting signals, but without negative RSI divergences (they are actually slightly positive) I am leaning toward a sustained decent rally in the SPX.