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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject	5/29/2001 3:18:43 PM
From: Henry J Costanzo	Read Replies (1) of 209892

My short-term EW take (follow-up on my post before going away May 17): 1. After completing on Apr 20 wave 1 up, from 1619 low of Apr 4 to 2202, COMP made an a-b-c correction, completing wave 2 at 2052 on May 14. 2. COMP then completed wave i of 3, on May 22, at 2321; since then it's been making an a-b-c corrective wave ii of 3. 3.At today's low of 2170, corrective wave c has exceeded the length of wave a, and appears to be ending. TA support for above: COMP has held above 50-day SMA since Apr 19; since May 4, the 10 and 20-day SMAs have been holding above 50-day, and all SMAs rising; indicators generally positive. At today's low, indicators on most intra-day charts showing positive divergences, possibly indicating turnaround before the close or tomorrow AM. Will now try to get up to date on some of the more recent posts on this thread. As usual - anybody and everybody welcome to tear all of this apart!

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