Re: [RT] MKT: NDX Big Upside Reversal ?

["Bill DuBroff" <wd78@xxxxxxxxxxxx>]

I have the same read.  In my work, 
there is major support just beneath the market at about 2890.  

<BLOCKQUOTE 
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  ----- Original Message ----- 
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  <A title=carl.vanhaesendonck@xxxxxxxxxx 
  href="mailto:carl.vanhaesendonck@xxxxxxxxxx";>Carl Vanhaesendonck 
  To: <A title=realtraders@xxxxxxxxxxx 
  href="mailto:'realtraders@xxxxxxxxxxx'">'realtraders@xxxxxxxxxxx' 
  Sent: Friday, November 17, 2000 4:49 
  AM
  Subject: [RT] MKT: NDX Big Upside 
  Reversal ?
  I think we are at an interesting and critical juncture, 
  with several indicators / patterns pointing to an upside reversal for the 
  Nasdaq Comp:1. From mid-July top to November low, a 5-waves Elliott 
  could be counted, which respects the rules of alternating a zig-zag retace for 
  wave 2 (in this case) and a flat W4 retrace.2. This count is reinforced by 
  the fact that we now have a beautiful bullish divergence with all indicators 
  between the W3 low in October and the W5 low in November3. Further 
  reinforced by the Bollinger Bands squeeze: a close below the lower band just 
  after a squeeze of the bands, with a (false) breakout of the October low, and 
  the fact that this downthrust below the band is not broken within the next 3-4 
  days4. All this Elliott impulse is contained in a down-hedging triangle, 
  where the slope of the upper line is steeper than the slope of the bottom 
  line, which indicates a weakening bearish power.So, I expect a 
  breakout to the upside soon.Of course, this is only my humble opinion and 
  all that could prove to be wrong if the index continues below 
  2800...Best wishesCarl VanhaesendonckTo 
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