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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Death Sphincter who wrote (34686)	12/1/1998 9:30:00 AM
From: Bull RidaH	Read Replies (1) \| Respond to of 94695

Carl, The target range given (1150.50-1157.5) is basis Dec. futures. If they see 1150.50, we should see the cash dip into the high 1140's. If it dips below the mid 1l40's, i would have to consider the possibility that the 5 wave set was already complete, and the 5 of 5 rally i'm looking for may not be coming. The other possibility to look for would be some sort of ending diagonal, but I'd have to study that. In any case, we would still probably see a significant retracement of this down move. If the 5 waves were complete, we could be starting that retracement from 1120 or lower though. Are we still in sync? Regards, David