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

To: Shack who wrote (115918)	4/2/2005 10:41:11 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

The impulse you mention is clean as the driven snow... but a) it could be "a" of a zigzag, or even b) the "C" of an expanded flat since 3/17 or 18. Friday's high tested the declining 50dma. I guess the action early next week may hold the key. Fun chart.

To: Shack who wrote (115918)	4/3/2005 10:18:52 AM
From: skinowski	Respond to of 209892

In the end, keeping it simple, we saw a rather strong downtrend since March 7. The market couldn't make even a decent bounce, despite being oversold... bulls showed no oomph at all. The DOW - as I think you noticed somewhere - is testing the low made on Jan 24, and SPX even printed a fractional new low. VIX and VXO rallied, and are near the upper side of their recent ranges, but VXN - reflecting the (weaker) Nasdaq - is still near its lows. We must be close to a rebound, and when it occurs, reading it correctly could be rather profitable....