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To: skinowski who wrote (70795)4/7/2003 7:55:05 PM
From: bcrafty  Respond to of 209892
 
Skin, yes I understand that part

What I didn't get was the "4 triangle of c of 2 with a final thrust up for the final 5 of c today." In other words, I was asking to see a picture of the five waves of the C from the 3/31 low, and the wiggle counts therein.



To: skinowski who wrote (70795)4/7/2003 8:14:13 PM
From: bcrafty  Respond to of 209892
 
About EWI's current view

From Aaron Task's column @thestreet.com tonight

"The stock market's inability to parlay that news flow into a sustained advance convinced Steve Hochberg, chief market analyst at Elliott Wave International in Atlanta, that the "countertrend rally" from the March 12 lows has all but ended.

In Elliott Wave parlance, the S&P completed an "ABC rally," with the rise from the March 12 low to the March 21 high being wave A, the decline from March 21 to March 31 being wave B, and the rally from the March 31 to Monday's intraday high being wave C.

The S&P approaching 905 also satisfied a price target Elliott Wave projected, Hochberg said. "The one variable that has yet to be satisfied is time. Our work ... suggests that April 11-16 holds a strong likelihood of marking a turn, which we think will be a high."

Given that, he believes shares likely will "hold up" for another week or so. "Regardless, our work suggests the advance is closer to its end than beginning or middle."