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To: skinowski who wrote (137610)10/18/2006 5:39:17 PM
From: Henry J Costanzo  Read Replies (1) | Respond to of 209892
 
Sorry took so long to get back to you, SNS..

I have no problem with a 4 triangle forming here...Could fit my count pretty neatly..and could be that the 3-wave down into today's low is pointing in that direction...But as of now, would need to see the D top before considering triangle possibility more seriously...

Also as of now, think we're forming a running flat ...and we could still be in the early stages of a running flat...particularly if you key off of a daily chart..



To: skinowski who wrote (137610)10/19/2006 1:46:27 PM
From: skinowski  Read Replies (2) | Respond to of 209892
 
I am satisfied that SPX and INDU may have completed a running triangle from the orthodox top on 10/16. SPY above 136.90 or so would mean that the next (5th?) wave is likely to be in progress.

There is a bearish version too, but for that to come to life SPY must drop under 136.20 or so.

Wiggles....


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