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Strategies & Market Trends : Moomin Valley (formerly Troll-free Zone) -- Ignore unavailable to you. Want to Upgrade?

To: venividivici who wrote (1667)8/31/2006 8:34:00 PM
From: skinowski  Read Replies (1) | Respond to of 2852
 
My 2 favorite views on SPX are:

1) June low was "A" and everything since is "B"

2) May 24 was the orthodox low of the first leg down, and everything since is "B"(or 2)

edit - if you consider the 2nd scenario, you'll find that the recent wedging rally is in fact testing the 78.6% retracement of the "1st" leg down.... which would be a little under 1310.



To: venividivici who wrote (1667)8/31/2006 9:04:47 PM
From: Moominoid  Respond to of 2852
 
Yeah the NASDAQ Composite already had - I don't know - since the July low we have something like this:

ABC - ABC - impulse - ABC - ABC

I really don't know what to make of that.


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