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

To: JRI who wrote (38538)	5/9/2002 9:05:39 AM
From: skinowski	Respond to of 209892

FWIW, translation of Onischka... has many options open - too many to be of much immediate use, but take a look... Elliottwellen - Nasdaq100: Trend reversal by rise over 1.183 confirms Next resistance with 1.320/30 points The NDX has very at short notice Gewinnpotenzial to approximately 1.320/30. An intermediate high can be today with 1.290, whereby only a short reaction follows. A move under 1.270 indicates the started intermediate correction. In the ideal case it concerns however only a Verschnaufpause lasting several hours on high level. Daily view Nasdaq100-Index for Thursday, 09 May -------------------------------------------------------------------------------- Short term 10-Minuten-Chart NDX: -------------------------------------------------------------------------------- The NDX started with a large Gap into the trade. Central Intraday resistances 1,163 and the 1,183 points were exceeded and released purchase signals. The first resistance with 1.210 fell likewise relatively fast, which can be rated as positive trend confirmation. With the rise over this second Chartmarke the Gewinnpotenzial mentioned to 1.320/30 was genieriert. Wave-technically it was important that the 1.183-Punkte-Marke is overcome, so that a trend change is present and itself the market risk clearly reduced. If the index were again turned off below this price range, it would have concerned only a Bearmarket Rallye. The still existed, remaining Verlustpotenzial to approximately 1,100 was not expenditure-provoked. With the mentioned purchase signals the proof is present that the downward wave ideal-proves April (1.427) since in the middle of, however even since in the middle of March, is terminated. Even in the case of a continuing, medium-term fall of prices a at least one-week reaction was overdue, which is started now. Charttechnisch is the first ohmic range about 1.320/30 points. In the ideal case the index will test but in the first approach will not lastingly overcome this price level still in this week. Profits into the lower 1.300-er range are to be regarded as minimum correction. Also regarding the scenario on daily basis much speaks for the fact that it comes even to a test of the fall of prices trend delimitation in the middle 1.400-er range. To what extent there is possibly a medium-term trend change here also, must be judged on the basis the course samples of the next days. Very at short notice: One can assume the current upward impulse is with 1.142 started and the Gap of yesterday a component of the Subwave 3' '. The best count of the extensiererten Intradaymuster is an expanded Wave 3' '. This would have the consequence that there is the Top of the Wave 3' today to beginning of meeting '. A possible Top could be about 1.290, whereby due to the trend dynamics an immediate expansion to 1,320 cannot be excluded. Particularly in the historical comparison it shows up that next 1-2 commercial days after such large Gap are frequently also very positive also. Therefore a good chance exists that the Wave 4' precipitates relatively briefly '. In principle intermediate losses to 1,254 and/or 1,238 would be realistic. A small reversal mark, which indicates however only one mini trend change in the microbe realm, is with 1.270 points and signals the start of the Korrekturwave 4' '. Critical prices are to be judged below 1.238 and in particular 1,220 points. Also then the very short term upward trend remains still intact, the chances on reasoning the Gaps rises however enormously. In the context of such an deep evaluation also 1,184 would fall, where the fall of prices is re-activated. Market technology: The purchase signals for opening are further valid. Momentarily there are still no divergences or counter signals, which refer to a trend change. In summary one can note thus that the NDX possesses Gewinnpotenzial to approximately 1.320/30 very at short notice. An intermediate high can be today with 1.290, whereby only a short reaction follows. A move under 1.270 indicates the started intermediate correction. In the ideal case it concerns however only a Verschnaufpause lasting several hours on high level. translate.google.com