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

To: Henry J Costanzo who wrote (129164)	2/7/2006 2:00:56 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

While the broad indices are above those end of year lows, MC, the OEX has undercut that same low today.To me, that's a chart that doesn't look "done" with downside, and while I know it's narrower than you'd like (100 stocks), it holds some interesting bullish and bearish counts (example -- us being in a 3 down instead of a C down here off the top of a completed impulse up). Let's just say that while I'm expecting (like 90% of the trading world) an oversold bounce here, I am NOT expecting it to be long, strong, or anything more than a bounce. I think we have lower to go on this move down. As I said Friday, I don't see the need for the bounce everyone forecast. I see it more now, but looking through non-tech in particular, I see a lotta charts with a scary amount of room to fall.