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

To: Vitas who wrote (37078)	2/4/1999 11:26:00 AM
From: Bull RidaH	Respond to of 94695

Vitas, NYSE wave count is same as the Dow and S&P IMO. To update where I believe we are, we achieved the minimums for the move off yesterday's lows when we hit 1285 (Mar futures) this a.m. on globex trading. However, that move up only appears to be Wave A of 5. We need an ABC move to complete the wave. This a.m.'s Slide i believe is a of B of 5, we should get a rally in here somewhere for b of B of 5, then one more small selloff into the afternoon for wave c of B of 5. That selloff should not violate 1257. Then we need wave C of 5 to run through its paces. It must retrace 90% at a minimum of the move from this a.m.'s 1285 to that eventual wave c of B low later today. So if that c of B low is around 1257, the wave C of 5 rally would need to reach 1282.2 minimum, and it could still reach 1305.5 as a maximum. But I still think the all time highs will hold any advance (1295). This is all pointing to the best put buying time frame coming sometime tomorrow, because the slide should be furious once this 5th wave completes. Regards, David