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To: jjstingray who wrote (161746)2/9/2008 12:06:08 PM
From: robert b furman  Read Replies (1) | Respond to of 209892
 
Well if it goes up from here,it will have been a strong retest of january's low.

But volume has been very low so far.

That would have trapped a lot of shorts.

I just can't help but think there needs to be a new low price and positive divergences.

Looks scary but doesn't have the bark of that past low as smart shorts are covering.

Next week should tell us.

Wish I knew what that typically looks like in wave structure.

Maybe Shack has seen that 98 kind of retest and can label it?

Bob



To: jjstingray who wrote (161746)2/9/2008 12:28:56 PM
From: Henry J Costanzo  Read Replies (1) | Respond to of 209892
 
Would like to see some day, jj, how your count fits into a longer framework..You're looking for an impulse down here, so are you thinking...

...the Oct high marked a completion of an impulse up from 2002, and a correction of the entire move up from 2002 is now underway..??..

OR..

...the Oct high marked the completion of a B up from 2002, with C down now underway...possibly foreshadowing a move back to the 2002 low..??


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