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http://marketviews.tv/freeservices/archives1/Guests/Neely/pg1.htm

 

 

Zoran

 

I have just listened to the Neely interview on the above link, I firstly wondered if you had heard it and if you had any thoughts.

 

Also any comments from others would be of interest.

 

Roger Parker

----- Original Message -----

From: Zoran Gayer

To:

Sent: Wednesday, August 18, 2004 4:25 AM

Subject: [Longwaves Forum]Re:Posibility of strong down move.

The critical position is the previous low  at this point buying will come in.

Thus there is always the possibility of a false break.

Also the momentum is high - there are many traders that buy volatility.

 

Generally, if the DOW or S&P are going to bounce they should approach that support slower than the previous up move.

As you can see it is a great deal faster.

 

On traditional Elliott this is the start of wave three of a three which are the highest momentum moves in Elliott.

 

Watch that previous low - if the action drops below it should accelerate.

You need to get the potential false break out of the way first.

The higher degree charts suggest that the support will not hold  if the DOW bounces this time  on the next approach it goes through.

 

It could be an important day.

 

 

Zoran

 

Thanks, Zoran.

 What do you think the odds are that the SPX will bounce off of 1058 at this time -- which would mean no strong down move today.

 Bill

Zoran wrote

There is a possibility of a strong down move today.

The DOW could easily reach the projected targets of last Sunday.

There is a lower Green ZIGZAG target.
 

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