Even if we do put a top in today...and we would have to see a hard reversal from a slight new high and come back under the top wedge..there is probably another 5th to go. Sure would fit with my big triangle idea on ES/spx. Unless of course the first 1 and 2 were actually A and B....but VERY unlikely...that would mean a more significant top near.
Looking at NQ..it has made a slight new high this morning and is dumping..opens the door to a failed 5th on ndx if cash doesn't confirm.
Need a close above the last high to be bullish
http://stockcharts.com/c-sc/sc?s=$NDX&p=15&yr=0&mn=11&dy=21&i=p60950679237&a=89413079&r=485.png
Edited by Teaparty, 19 October 2007 - 07:28 AM.
