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Strategies & Market Trends : Classic TA Workplace

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To: JRI who wrote (2642)	5/16/2001 10:05:55 AM
From: velociraptor_	Read Replies (2) of 209892

I see a pretty decent impulse in the Nasdaq from the 2200 high on the 10th to the early low at 2060 on the 14th. I can count 5 waves down. The bulk of the action during the 14th and 15th looks corrective. The next down series began late yesterday, with wave 1 having a clear 5 waves down, the gap this morning being the bulk of the 5th wave. It found support at previous support of 2060. We now appear to be tracing out a small corrective a-b-c of which a is done and we are now in b. It looks like it may be a zig-zag so far, but we'll see. .

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