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Strategies & Market Trends : Classic TA Workplace

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To: J_K who wrote (7388)	7/18/2001 7:19:34 AM
From: AllansAlias	Read Replies (4) of 209892

NASDAQ Intermediate-Term Bullish Scenario chart: geocities.com The text from the chart reads as follows: I am as put off as anyone about being long in this market, but I can not see a reasonable count that points down in the near future. I will not go long here unless we actually trace out this correction as shown. Above is my preferred count and it sees us messing about in this large wedge for weeks yet. What strikes me when I look at this chart is the clear movement in 3's rather than 5's. This hints that we are either in a 'triangle' (a la Elliott) correction or some sort of 'ending diagonal', but I do not see how it could be the latter. So, a challenge for you bears: Is there a reasonable count that sees us heading back to the lows anytime soon? Cheers, Allan

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