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SI_Shack

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SI_Shack

Re: ajtj99 post# 25943

Monday, 05/24/2004 9:01:08 PM

Monday, May 24, 2004 9:01:08 PM

Post# of 148479
I'm not sure why you suspect that. An ascending wedge can indeed lead off a move in e-wave, as in a leading diagonal, but its very rare. But I see no evidence of one here.

The NDX low came later than non-tech and has potential to be consructive, but the non-tech low of May 12 (as measured by the $XMI) has lead to a sideways jell-o flag. Basic TA and e-wave says the low is not in for that index. If that's the case then you have to think that tech is on a similar cycle.

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