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

To: The Freep who wrote (62378)	12/30/2002 9:39:55 PM
From: skinowski	Respond to of 209892

Sears – no good ideas. May have completed 5 down, beginning to look vaguely bullish, but I wouldn’t know how to approach it. Looking at C... EW wise things may not be very clear… But – on the hourly chart – if the decline into 12/13 low was some sort of an non-pretty wave 1, than we might be in the early stages of a 3 down, with today’s upward grind being part or all of 2 of 3. In case of a rally, 36 should offer good resistance, and the 37.50 area imo should be a line in the sand for a short position (80% retrace of the latest (impulsive) decline, etc). The market in general looks like it “wants” down, but many hourly charts are oversold and just gave MACD buy signals. SPX is close to testing the 50% retrace of the October rally… For some reason I think that if I’m smart, I’ll extend my vacation by another couple of days… -g.