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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (15546)	2/16/1999 7:49:00 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 44573

Chip, Just looked at a chart of the TSE-300 and it bears a striking resemblance to the Russell 2000. Both peaked 4/98 and developed a LT down trend from there- the first leg down from 4/98 to 6/98, then a correction up to 7/98, the second leg down to 10/98, and what appears to be a two phases bear market rally (big correction) up from 10/98 to 1/99. In the Russell the EW count is a bit clearer, and shows both down legs as clear impulses (5 count inside), and the big correction to 1/99 a classic ABC. From the Jan high I am counting the present as 5 of 3 down (1 from 1/20 to 1/22, 2 to 2/1, 1 of 3 to 2/2, 2 of 3 to 2/4 open, 3 of 3 to 2/10, 4 of 3 to 2/11 close - 2/12 open, and now 5 of 3, which began 2/12 open and could have ended on the same day or could extend for a few more days). When the 3 is complete I expect the 4 to be short and sharp 2 days up move (since the 2 was relatively flat) and then the 5 down before a bigger up move. Anyway, the LT trends of the Russell 2000 and TSE 300 are down until proven otherwise. ATG