Market Trend Analysis from MomentuMonkey Message Board

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Strategies & Market Trends : Market Trend Analysis from MomentuMonkey

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To: David Lee Smith who started this subject	10/31/2000 3:18:53 AM
From: Stcgg	Read Replies (1) of 281

Market Update - Quotable SI Posts.. Message 14692115 Message 14691600 Elliott Wave Analysis.. The Dow/Naz behavior has displayed a massive non-confirmation.. Dow is still in a minor W2c rally and reached a high of 10870, close to the fibonacci 76.8% retracement levels of 11027-11050 for this counter-trend.. The turn window is from 10/27 thru 10/31.. Any highs after 10/31 above 11050 would negate the bear case short-term, however a turn tomorrow would setup the Dow for a very sharp W3 decline below the 10/18 lows.. The SnP and Naz are still in a W2 counter-trend, whether or not W2 has farther to go on the upside is uncertain, however confidence is high that the next leg down in the bear trend will bring the indices below their 10/18 lows.. A break of Naz 3081 and SnP 1338 indicates that W3 is underway to the downside.. >><<

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