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

To: AllansAlias who wrote (83163)	9/30/2003 10:59:43 AM
From: Perspective	Read Replies (1) \| Respond to of 209892

Fifth wave down wrapping up here? (On the leg down which started after the 9/19 high) I'm anxious to see what kind of bounce she can put together. We're getting to some support levels on both Dow and Naz, and getting nicely oversold. We've had two rally attempt on the way down - waves 2&4? So I hope to see a corrective up-wave now. If the character is strong and quick, I'll wait to lay on shorts. If it is choppy and struggling, it will be time to take on a position. This is certainly the way one would expect the turn to look: a lower volume fifth wave up, followed by a turn down on increasing volume. Glamour trash suffering pretty good technical damage. From here, COMP 1830,1845,1860 are 38%, 50%, 62% retraces. We've gone down for seven days now, so perhaps upward corrective through weeks' end. BC