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

To: Arik T.G. who wrote (24529)	6/1/1999 12:59:00 PM
From: Bull RidaH	Read Replies (1) \| Respond to of 44573

Arik, <<And now>>? Looks like we may have begun wave 5 down from the 5/13 high, but I still can't say for sure. This could be an expanding triangle for wave 4, with today's selling being wave D. Wave A of 4 began from Wednesday's lows, Wave B of 4 from Wed's highs, Wave C of 4 from Thursday's lows, then Wave D of 4 from Thursday's highs. Do you see that possibility? If this move breaks below 1270SPX, we could safely say this move down from Friday's highs is wave 5 and not D of 4, as the trendline from wed's and thur.'s lows would be broken by more than 10% of the length of C of 4, an action that would void the triangle count. Until then, it's a toss up. Regards, David