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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (9849)	8/11/2001 3:50:31 PM
From: skinowski	Read Replies (1) of 209892

The prospective breakout in the DOW is part of the entire “Wave C” issue. Presumably, when (if) the DOW unexpectedly starts shooting up to new all time highs in a final wave 5, this is what would provide the enthusiasm that would strengthen the rally in the NAZ, thereby setting up the whole market for a fall. A while ago Allan posted the puzzle with a mystery chart, which, of course, was the DOW. The last 4 semi-annual bars did look a lot like a bull flag. If you look at the monthly chart of the DOW, you can see an A-B-C correction from the all-time high, with the presumed ‘C’ bottoming last March. siliconinvestor.com

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