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Non-Tech : Raptor's Den -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (7744)	2/10/2003 8:44:43 PM
From: mishedlo	Respond to of 10157

From Brian. Particularly note the 60min chart As to the direction of the market in the next week or so, the counts I can see give two main directions: up or down (isn't that helpfull?). In a day or two, I'll probably be able to be more of a help. From the Chart List: Feb 10: I can see two ways to count the S&P through the end of today. The decline from the open can be seen as tracing out 5 waves, but the advance from the low can also be counted as 5 waves before the rest of the day was spent bumping around. The advance from the low today may have been wave C of an Expanded Flat that began late yesterday, with the afternoon forming the beginnings of the next wave down. OR, the low today could have been the end of a wave 5 in the form of an Ending Diagonal (which is counted in dark blue from the January high). Right now either count can be supported, and the market will have to speak as to the correct count. A move above 846 would lend weight to the Ending Diagonal count, and a correction from today's lows could end at a Fib. Retracement level at 866 (which is at the neckline of the 3-month H&S), 880 or 893. If the market declines and makes new lows beyond today's low of 823 without rising above 846, the red count will still be valid and the Ending Diagonal will be nullified. stockcharts.com The Summation and the BP chart continued down today. For those of you short F and GM (and GT, Durra, AZO etc.): tinyurl.com tinyurl.com tinyurl.com All the Best, Brian