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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (3698)	5/29/2001 11:09:25 PM
From: Shack	Read Replies (3) of 209892

That cannot be correct. Firstly, you are counting the entire upmove from the April 4 lows as impulsive which means you are anticipating the bear market is over and think the Nasdaq will make new highs eventually. Secondly, your '3' of 3 has retraced below the end of wave 1. Thats a no-no in Elliott land. We are still likely in a corrective wave 'B' which is still retracing the April 4-20 rally. This 'B' looks to be finishing off with a sharp 5 wave down 'c' of B.

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