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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	3/23/2001 10:06:21 AM
From: velociraptor_	of 37746

concerning wave counts there are really several possibilities to entertain now. On the S&P, considering that it has not surpassed 1128, we could still be in wave 4 of 3 down and thus will still get our missing wave 5. If this is the case, what we saw yesterday was a C wave of a complex A-B-C. We could also have completed wave 3 where wave 5 was somehow abruptly truncated. Considering that the rise from late yesterday was bigger than the previous bump, this would lead me to believe that this is more right as corrective waves tend to be of similar magnitude within a wave series. Thus, we would now be in wave 4. What we saw yesterday could have been the A wave of this correction. Or it could have been the C wave, however, this last option doesn't fit well as it would also truncate not only wave 5of 3 but also part of wave 4 of 3.

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