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I seldom look at the NAS but for fun here is what I have. Pretty well
agrees with Jeff. Since the high side of the short term red channel is being
tested this could lead to a test of the longer term black channel making for
a short term consolidation, but lower prices look likely to me. However, if
the black channel is broken then we may have a reversal, until then I'd stay
with the channel.
Prosper
--- In realtraders@xxxxxxxxxxx, Jeffrey Harteam <jharteam@xxxx> wrote:
> Greetings Traders:
>
> The Nasdaq Comp. is nearing its final leg of downmove to complete its
> intermediate correction a-b-c since 03/10/2000. The final wave 5 of c
> has taken the shape of a declining wedge. This is a classical 5-3-5
> Elliott Wave pattern. Regards
>
> Have a good one
> Jeff Harteam
> Hong Kong
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