Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: skinowski who wrote (135284)	8/8/2006 3:38:16 PM
From: Shack	Read Replies (2) \| Respond to of 209892

THe action since June 14 may be in fact a completed correction. That's what I think. And tech looks even worse.

To: skinowski who wrote (135284)	8/8/2006 7:01:50 PM
From: wave3rules	Respond to of 209892

I concur, a nice shaped ABC zig zag from 14th Jun completes wave 2, now its a 3 of 3 down.

To: skinowski who wrote (135284)	8/8/2006 8:03:24 PM
From: venividivici	Respond to of 209892

Well, I'll throw a count into the ring and say the NDX may have completed an 'X' wave at today's lows and we're headed for a complex correction. If we get overlap tomorrow with yesterday's lows and take out ~1500, it's either that or today was the 'B' of a flat off the July bottom and we're in the 'C' of that flat. Today's move post-Fed was about 61.8% of the move from Friday's high to yesterday's low, which I believe is a valid Fib relationship between the 'a' and 'c' of an X. Of course, today's low would absolutely need to hold. The fact that we ramped right off that 1476 level, retested it and ramped again, makes me think this correction to the upside isn't done yet.