Replies to post #10233 on Profunds index and sector trading (PRO)

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It is actually Steve Hochberg..and not Stan. Steve Hochberg works for Robert Prechter of Elliott Wave International.

Although we are both looking for DECLINES from this point forward. Their overall wave-count is more Bearish and in line with what you talked about a week or so ago. I STILL believe that we are in Wave-C of a large A-B-C that started in March of 2000. Prechter and Hochberg think that that this is Wave-3 of Primary Degree, which implies ultimate lower lows past 582 in the SPX. Either way, this year will be the Year of the Bear.....unless the recent HIGHS are taken out...which were 1560 on the NDX and 1163 in SPX. That would change the ENTIRE wave count from the LOW in October of 2002. Confirmation that NEXT Larger Degree Decline is underway, whether it is Wave -C or Wave-3, is with a move BELOW 1368 in the NDX or 1087 in the SPX. However, a move BELOW 1430 on the NDX is confirmation enough for me the the NEXT larger Degree DECLINE is underway.