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

To: chris714 who wrote (1478)	7/24/2008 10:00:48 AM
From: AllansAlias	Read Replies (1) \| Respond to of 3209

Dunno. I did not mean to show a target on that $OSX chart. 290 has an excellent shot. 280 has a decent shot. We'll track it closely the next weeks and look for signs it has petered-out -- proper wave structure, support coming into play, sentiment, out of place up-thrust.

To: chris714 who wrote (1478)	7/24/2008 10:18:08 AM
From: AllansAlias	Read Replies (2) \| Respond to of 3209

So, let's say we learn to stop worrying about those 3-wave bottoms in mid-July and we want to position long. We let the initial appetizer up-move go by and we look ahead to getting long on the pullback. Taking a look at the Nasdaq here, we can have some targets and wave patterns in mind well ahead of the buy -- we should be thinking a few steps ahead. Take a look at this 90min QQQQ chart: We see the initial up move out of the low, shown in blue (cyan). We then see a corrective-looking pullback, shown in light purple, followed by a spike, shown in green. The assumption for all that follows below is that the initial blue (cyan) move is a 'i' or 'a' up -- the start of a larger move. What we wanna track is when the 'ii' or 'b' down would be finished so we can be positioned for the 'iii' or 'c' up. There are two likely possibilities -- sown with different coloured lines and arrows. Each shows a different target for the turn. Purple arrow: The 'iii' or 'c' up was begun at the green spike. What we are seeing now is a minor pullback before the green move continues to the upside. We would not be in a '(ii)' pullback, with the '(iii)' to start when we dip down a little to complete a 'flat' correction. Red arrow: We are in a larger a-b-c correction after the initial up move in blue (cyan). The light purple down was the 'a', the green spike was the 'b', and we would now be in the 'c' down to the red line's target.