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

To: Shack who wrote (130619)	3/12/2006 1:44:12 PM
From: skinowski	Read Replies (4) \| Respond to of 209892

Yes. I thought more in terms of a zigzag down, but the implications are the same. What I meant in the note to Phoenix is that if Friday's high gets taken out, that would suggest that the advance since Wed low (which you mention) may have legs.... and is unlikely to be only a correction. Nice when small moves give clues as to larger ones. That's one of the useful things about EW. Btw, I think your "No New Lows" challenge re: Q's was based on the Flat since Jan 11. Am I right? Just curious. As an aside, Friday's NDX low sits below a (potential) H&S neckline on the daily. If taken out next week, implications would be not good for bulls.... another impulse down could be serious. (Which makes this juncture a decent long entry against Friday's lows).