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

To: John Madarasz who wrote (61641)	12/13/2002 11:10:41 PM
From: Shack	Read Replies (3) \| Respond to of 209892

i don't buy that wedge. why is the pullback on the 18th which measured 21 points not a reversal point, but the pullback from the 25th of Nov which measured 23 points is? Does it really matter? Either price is contracting or it isn't. And if it is an Elliot ending diagonal that's how you draw them. Everything needs to be 3 waves and the 'iii' up can't be the shortest wave. As for your measured move on the sym triangle (964), we have already closed below the upper line. That's another failure in the making no? As for blowing through the October consolidation, we're already halfway through it after the piss ass bounce at 890. As for the 50 day MA, didn't seem to help the COMP much good. And on the SPX I have us below the 50 day EMA already and closing right on the 50 day SMA. The real nasty ominous looking technical stuff is on the tech charts. We gapped out of a shitty bear flag and that does not bode well short-term hence my current bearishness. Not to mention the endless chatter about the Christmas rally. Which by the way does not traditionally start until the second half of the month and often is preceded by a nasty dump. And FWIW John, I truly hope we don't get a shock but I also feel we can get a crap without one.