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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (454)	5/11/2008 11:48:04 PM
From: AllansAlias	Read Replies (2) \| Respond to of 3209

Not for the faint of heart... The Nasdaq bearish "big C" in detail. This sees the Oct high as a multi-year high and a crushing decline coming that would easily take out the 2002 lows. I am not sold on it yet, but I respect it and it is changing my behaviour to be more conservative -- to expect surprises to the down side until price action makes this map invalid. First, for the big picture of the Nasdaq "big C", here is the wide shot on a monthly: Now, here is the closeup Elliott count on the weekly: Elliott nitpick: There is some overlap of the 'iv' wave and the 'i' wave in the green channel move, but not on a closing basis.