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

To: AllansAlias who wrote (59081)	11/9/2002 2:33:34 PM
From: Shack	Read Replies (2) \| Respond to of 209892

I have a feeling that the Aug 22 move into the Oct lows is impulsive in some stocks and corrective elsewhere. I think it is very possible that we have seen the highs in certain issues and not in others. This is not really profound. I am far less bullish on the DOW. This has to do with the action in the BKX, C (max pain says down hard short-term), and Softie (don't gap down now!-g)which all look like they have completed a large flat off the July lows. MMM looks like 5 waves off the Sept lows and PG looks to be backtesting the coil from which it broke down on Oct 28th. GE looks like we may have seen a double-top unless the last few days is a 'c' down and it was especially weak on Friday. Short-term the JNJ chart looks bullish but intermediate term, watch out!: marketswing.com And for those that missed it, here's the updated ED on Citigroup: marketswing.com The SOX move however is clearly impulsive into the Oct lows and I have to look for a another move up in tech. FWIW, I believe we have seen the top of the 'A' wave in this correction in tech. I think one could play short here for a while especially in non-tech. Max pain will help out too (seen INTC?). I would look for the second leg up to begin in early December.