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COMPQ 1967 is approx. a .618 retracement from ZERO to 5150. The moment
of truth will soon arrive.
Cheers,
Norman
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, February 28, 2001 8:19 AM
Subject: Re: [RT] Re: sp50/nasdaq
> Targets for NDX 2010 to 2020 today on the weak+ side. If strong+ then
2050
> to 2090. If negative then weak- 1910 to 1920, and strong- 1845 to 1880.
> Should Greenspan cause a crash up, then 2150 and a channel breakout.
> Breakout at 2090 would be tough to do as the daily channel is still down
and
> probability sympathizer is in a sell the rally mode. Crash down, not
> expected, but would be 1790 for today only.
>
> bobr
>
> ----- Original Message -----
> From: "proffittak" <profitok@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, February 28, 2001 4:43 AM
> Subject: [RT] Re: sp50/nasdaq
>
>
> > The NASDAQ 100 has spent four weeks in a narrow channel with a slope
> > of -98%/Yr
> > (-100%/Yr is the max you can have). This cannot be sustained.
> > Friday's action of the small caps and the Techs coming back at the end
of
> > the day is
> > a strong positive showing that traders were not afraid to hold over the
> > weekend and
> > the worse is probably over.
> >
> > The overall pattern since the October 1998 bottom (the beginning of the
> four
> > year market cycle)
> > suggests that the correction that started in March 2000 has about played
> > out.
> > Enough time has passed to put us near the normal starting point of the
> third
> > and final rally
> > of the four-year cycle.
> >
> > The Bad news:
> > The third rally of the four-year cycle is the weakest and it is followed
> by
> > the largest correction.
> > The overall pattern since the October 1998 bottom is one of shorter
> rallies
> > (in time and price)
> > and longer corrections. This is a major shift to a bearish pattern.
> > If the March-January correction had happened in 2002 we could pass this
> off
> > as a normal
> > four-year correction (1990, 1994, 1998) and expect a big rally to
follow.
> > The current correction
> > has occurred in the middle of the cycle and was longer in time and price
> > than the normal four-year
> > correction that occurs in a Bullish pattern.
> >
> > The pattern on the OTC and S&P now appears to be a large down sloping
> > channel formed by a
> > trend line through the highs in March and September and a parallel line
> > through the low in
> > late December.
> >
> > We should now begin a decent rally off the bottom of the channels but it
> > will be a bear
> > market rally. Since 1930 the third rally in the four-year cycle has
> averaged
> > 23.3% and
> > lasted 7.2 months on the S&P. Since the current cycle is a bearish
pattern
> > we should
> > expect the coming rally to be less in time and price.
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Tuesday, February 27, 2001 10:27 PM
> > Subject: Re: [RT] Re: NDX question
> >
> >
> > > If you look at a weekly chart of the NASDAQ composite, you will see a
> > pivot
> > > low on 19Feb99 at 2224.20 - today closed below that pivot low and the
> next
> > > pivot low down is 1357.10 which was the beginning of the parabolic
rise.
> > The
> > > decline which began 21Jul00 has been so steep that it most certainly
> > > qualifies as a w.3 and I don't believe w.3 is quite finished although
it
> > may
> > > be getting close to a rally. (One should not ignore a standard w.3
> > expansion
> > > of 162% of W.1 projected from W.3 (10Mar00 PH, 26May00 PL, and 21Jul00
> PH)
> > > projects to 900.) Based on the current low of w.3, AGet is projecting
a
> > w.5
> > > termination at 1015. While we need w.4 (which should be a nice
tradable
> > > rally lasting a month or more) in order to more closely project the
end
> of
> > > w.5, I've long believed the NASDAQ would retrace all of its parabolic
> > rise.
> > > So there you have a best case of 1357 and current worst case of 1015
> with
> > > the jury still out.
> > >
> > > Earl
> > >
> > >
> > > ----- Original Message -----
> > > From: "Jimmy" <jsnowden@xxxxxxxxx>
> > > To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Tuesday, February 27, 2001 10:13 AM
> > > Subject: [RT] Re: NDX question
> > >
> > >
> > > > Recent posts didn't see much upside to the rally. What I see on the
> NDX
> > > > chart leads me to think we have a better chance of a nice tradable
> > upside
> > > > move than the continuation of the decline.
> > > >
> > > > Do any of the Elliott Wave technicians see this or is another
> > significant
> > > > down move pretty much needed?
> > > >
> > > >
> > > > Jimmy
> > > >
> > > >
> > > > To unsubscribe from this group, send an email to:
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> > > >
> > > >
> > > >
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> > > >
> > > >
> > >
> > >
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> > >
> > >
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> > >
> > >
> >
> >
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> >
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> >
> >
>
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