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To: Abner Hosmer who wrote (80987)9/10/2003 1:07:05 AM
From: Shack  Respond to of 209892
 
To me it looks like the Trannies are consolidating in a flat correction outside the wedge. Tomorrow should tell the tale if that's the case, or if the breakout fails.



To: Abner Hosmer who wrote (80987)9/10/2003 7:19:52 AM
From: skinowski  Respond to of 209892
 
Thanks for showing the article by Leib (brought up by Les). The point labeled '10' on Leib's examples is, of course, the bottom of W4, corresponding (in the present) to the August 6 low of 960. A decline below that level would confirm that a significant top is in place.

Leib does a nice job "translating" different TA languages as related to the same chart.



To: Abner Hosmer who wrote (80987)9/10/2003 7:49:40 AM
From: skinowski  Respond to of 209892
 
BTW, with very little difficulty one can see the same combination of fractals on the 15 min chart of the ES over the past several days. The low of "4" would be 1017.75. Of course, wiggles are wiggly, but an overlap below 1012 (SPX 1015) would add weight to this theory.