Hi sally2412Re; "Laptop: I am not familiar with wave theory but...

Hi sally2412

Re; "Laptop: I am not familiar with wave theory but I gather with resistance at 27 that after today we might see a pullback to perhaps 23.30 and then up again?" - please note that I am a chatting dog - 'lapdog' in fact!

I niether claim to be an expert on Elliott Waves nor to be a blind subscriber to them. However, given my background in Maths [upon which the theory is also based] I admit to thinking they are at the least interesting, usually helpful & occasionally stunningly accurate. At times they can also provide highly misleading projections - for example, that a company SP will go well below $0.00!

If interested the URLs below provide some insights.

http://www.investopedia.com/articles/technical/111401.asp
http://www.acrotec.com/ewt.htm
http://www.market-harmonics.com/elliott_wave1.htm
http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory

The site below is for Elliott Wave International - it is very long term bearish for the DOW & global economy - based on the works of Bob Prechter.
http://www.elliottwave.com/

Cheers,

4YIO - NFA