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Strategies & Market Trends : MDA - Market Direction Analysis

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Jan 28 4:00 PM EST

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To: John T. who wrote (34175)	11/25/1999 12:35:00 AM
From: Stcgg	Read Replies (3) of 99985

Elliott Wave.. John, if the Dow surpasses 11,366 the Bear case collapses totally under EWT.. So far, this "wave 2 correction" in a new bear market has surpassed even the 78.6% fibonacci retracement of wave 1 (a no-no).. Prechter has had his tail between his legs for the past month and a half, calling for a Dow 9200 decline in wave 3.. If this ever happens, it will have to wait till the Santa Claus rally is over and worries mount concerning Y2K, rates, etc.. His waves will have to zig-zag in the meantime, but if Dow makes another new hi, (as the Nasdaq has), he's wrong again.. He also said the same wave 3 decline was imminent for the Nasdaq (before making daily hi's).. Prechter was also wrong in 1996, 1997 and 1998.. LOL! >><<

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