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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: KM who wrote (54056)7/30/1999 8:31:00 PM
From: bobby beara  Read Replies (2) of 86076
 
Truff, you would start to worry that the sentiment is getting too bearish, but remember off last July's top the sentiment turned bearish but was not a contrary indicator.

that's why the market won't stop it's slide no matter how often i evoke blood thirsty characters -gggg-

In very early February I posted on the MDA thread about the little failed H&S pattern on the TYX, it started failing right on Feb 1st, that was the start of a big slide in nasdaq, we have the same scenario here, a failed H&S pattern, this one is worse because it had a false breakout which trapped longs. The target of this broken H&S ranges is 2.45 percentage points, if the h&s fulfills it's target in reverse 30 year rates are targeted at 64.36%. The Feb 1 reversal met it's reversal projection and stopped it's slide when the market bottomed March 3rd.

I think we have a slam dunk here.

bb
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