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

To: steve from ihub who wrote (116301)	4/10/2005 11:20:37 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

Yeah, the market can go either way, of course. I am inclined to think that SPX made an orthodox bottom on 3/23, and that the high last Thursday was a 38.2% Fibo retracement of the march decline. That - along with the intraday Ending Diagonal - seemed like a good reason to try some short entries, which I did. So far so good - and I see that the weak close on Friday created some more overlaps for bulls to worry about. But that said, even if the larger trend has changed, which is not yet clear - there is no reason as to why this positive grind couldn't continue to subdivide - and maybe even reach new recovery highs...