|
PureBytes Links
Trading Reference Links
|
Hi Jim,
I'm no expert, but I think that those B-wave "sucker rally" characteristics
don't include the kind of internal strength we're seeing in this kickoff.
Usually a B-wave rise makes one feel that there's something inherently wrong
with the rally, but this doesn't seem to fit the bill.
If however, the rally continues with weakening internals (?), then your
suspicions
could be correct. With Elliott, who knows for sure until much later?
Regards,
Dennis C.
---- Original Message -----
From: <Jpilleafe@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, March 17, 2000 10:38 AM
Subject: [RT] Re: markets/outlook for 5-10 days
> In a message dated 3/17/00 7:30:11 AM Pacific Standard Time,
> patterntrader@xxxxxxxxxx writes:
>
> << there was a reversal off a multi-day low yesterday in the Nasdaq - on
an
> INCREASE in volume. >>
>
> Phil...I know that,..but the focus of my question is the Dow-30 and
> S&P500,...which have been out of sych with NASDAQ past week.
> Again,..the question is for the Dow and S&P500,...why would
> yesterday's short covering inspired rally imply additional upside ....
> as opposed to being a B Wave rally,..with further downside possible?
>
> Thanks...JIM
>
>
>
|