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To: venividivici who wrote (129353)2/9/2006 10:28:04 PM
From: skinowski  Read Replies (1) | Respond to of 209892
 
I think it's just an ABC on the NDX. A=C at 1631.

Just curious, vvv - what do you think this presumed ABC is correcting?

I have a rather difficult time fitting in this pullback, which so many presumed to be corrective, into the context of the advance since August 2004.

I can easily see the move since last May as as consisting of multiple zigzags... But an impulse is a little tough. What would be a way to make it look impulsive? Let's say, it started out as a bullish series of 1's and 2's, followed by a 3 of 3 (which was the October rally)?

stockcharts.com[f,a]daclyyay[d20040709,20060209][pb50!b200][vc60][iub14!la12,26,9][J51027878,Y]&listNum=1

Generally, imo when we have such a rambling, cranky rally as we had for the past 2 years, on vanishing momo - bearish views look more elegant. And maybe there is a reason for that.

Any comments welcome... I'm sorry to have to hit and run, but must go... getting up very early in AM - ski time. Will reply to comments (assuming there will be any) on Sunday.



To: venividivici who wrote (129353)2/9/2006 10:42:19 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
The key for me continues to be based in TA rather than waves. I need to see the COMP hold the big breakout above the multi-week wedge, the upper line of which lies down at 2230. Below there would be my first warning, a close below 2180 is the second and last straw for the big bull count IMO.