Market high? Yes. But the 50-point surge was a valid pattern

The correction off the Nasdaq top had taken 10 days to reach
–5.5% [a Nasdaq Count of 10/-110(-5.5%)], as of Nov. 21, Friday.
 Magnitude it lacked a mite.  But length – two trading weeks,
was significant.

Monday, the 24th, the Nasdaq surged +50 – strong bullish
sentiment all day long and a valid entry pattern (even earlier in the
day, considering the Nasdaq Count).  In with high-beta techs by
day’s end, with loose stops set.

So, we’ll see.  The Nas has been only –15 since then from
the day-end entry point, and is now +15.  So high in this 8-month
bull, there are a lot of fakes, like the Nas –30 on Wednesday. 
But, such good surges off bottom, such as Monday, are usually
meaningful.  Even if there’s nothing to ride up this time, we
were out of the last correction, and will never ride and serious
decline down in this style of trading.

There is an ongoing discussion of this type of market play at the New
Breed site,   http://members.aol.com/davetrends, and also at the Yahoo
group site.  Read a few installments, no cost, then give us any
relevant experience you may have.
You’re invited.