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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Magnatizer who wrote (42384)	5/24/2003 2:28:14 PM
From: Doug R	Respond to of 79297

Hi Mag, Alot of technicals took Mon(5/19) pretty hard. By this Wed we'll probably know if it was just a downside headfake. On the S&P it looks like the daily 89,3,5 is what to monitor. It'll be using the 4,3,2 and 4,5,2 as co-conspirators. If the S&P can find its way over 965 on good 89,3,5 activity, I'll be forced to declare a possible MIM on it. And THAT would mean, based on typical chart symmetry, there's a potential for a return to the alltime highs again by the end of 2005. That would lead to EW supercycle wave 3 rumblings with more folks than just Wolanchuk. As for what I look at though, it's still just "possible". Gotta wait and see if there's a MIM which would require a higher low once the possible high is set. That'll take several months. Then, of course, we'll need a break over the MDTL (the MDTL's not there yet). Doug R