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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: Runomo™ who wrote (15599)	5/15/2004 1:53:37 PM
From: Runomo™	Respond to of 206996

The Naz summation index (NASI) is now around the same oversold levels reached March 03 while remaining well above the nasty bear market bottom levels reached in OCT 01..... stockcharts.com[w,a]dellynay[df][pa!f][iUp14,3,3!Lb14!Lah12,26,9]&pref=G The NYSE summation index (NYSI) appears to have finally slowed down the momentum of it's steep decline from the historic highs it achieved last year...the NYSE mcosi (ratio adjusted) has gone straight up this week from the outlandish levels it reached recently (107.47) and is within striking distance of going above the zero line and thus help turn around the NASI which needs to make a stand right here as it is getting dangerously close to it's bear market July 02 bottom at 1101.... stockcharts.com[w,a]dellynay[df][pa!f][iUp14,3,3!Lb14!Lah12,26,9]&pref=G Mo

To: Runomo™ who wrote (15599)	5/15/2004 2:46:44 PM
From: elliottrules	Read Replies (1) \| Respond to of 206996

Runomo, Anything is possible I guess, but I think the NAZ 100 and COMPX are in an irregular 4th wave flats. Because of that, you get a 5 wave advance from new lows on the move - like last week - and every ewaver in the world will think we bottomed when it is just a "C" wave. Happens all the time to the bears, ask da chief. He taught me all about irregular flats and I have to tell you, it is really the entire key to Elliott Wave. The SOX is going down in 5 and up in 3 and until that stops it is hard to get excited. Also, this entire decline has been in the face of extremely good economic and corporate news. I sold the market the day after Yahoo earning. The news kept getting better and better. And here were are, 600 points lower on the DOW. We need some really bad news... and it is not interest rate related or inflation. It is hard to believe that the criminals at the exchange ended this decline on a day when, that night, most people came home to see the DJIA up 25 points. Hardly ugly. As a matter of fact, the entire decline so far has been surprisingly orderly. Not much panic. VIX isn't even above 20. It should be at 30 or 40. All IMO. Just so you know, I never marry an Elliott Wave count, I just follow the hourly model. All you really need to know is where you are going in the next hour. This way you can change you mind whenever you want.