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

To: Henry J Costanzo who wrote (123383)	8/28/2005 4:04:51 PM
From: Shack	Respond to of 209892

Its channeling but the structure is overlapping and yes.....slow. Its taken 4 weeks for the NDX to shed 70 points in this very choppy downchannel. I'm not saying its not a downtrend, I'm just saying that its not a strong one and subject to abrupt reversal. There's little in this downchannel for bears to grab onto to believe its the start of something large. I don't believe it can keep going like this. It needs to accelerate (which the SPX may have begin to do on Friday) or I still think it reverses.