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

To: Shack who wrote (59553)	11/15/2002 6:46:01 AM
From: skinowski	Respond to of 209892

Take a look at this morning’s Onischka's NDX analysis… (would use my own charts, but still didn’t figure out a way to post them which would be easy enough for the techno-challenged). 216.239.39.120 Eyeballing the chart, I can’t help sensing a certain ‘correctivenes’, or a ‘threenes’ in it… A strong move from the low, followed by a large flat – looking wiggle in the middle, followed by an impulsive up. (Should mention that the decline which preceded that was also choppy). The mood among bears, it seems, turned cautionary. Would not be surprised if we get ‘surprised’ by a down move, perhaps a blue ‘c’ down on Mat’s chart. Having said that, I will probably not benefit from that move by much, because I would largely cover on any weakness. My shorts were decently entered, but are still, of course, under water, and I find that generally I am better off not trying to maximize a trade which has spent time on the losing side… better to close out and to look for a fresh start. Better psychology. Out until late afternoon. Good luck all. PS: The Support at 1021 – 1026 mentioned in the update IS interesting… Lower line of a channel, as well as the top of a putative first wave of a possibly evolving impulse. Perhaps, the conservative and wise thing for a bear would be to wait for the break.