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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (9853)	8/11/2001 4:37:30 PM
From: Shack	Read Replies (1) of 209892

Yes, the DOW flag is a bullish development as it is clearly corrective. However, if it is what I suspect, it will prove to be a complex correction which could last a couple of years. Maybe we are correcting the move from 1987. We could break down out of that flag and still be in corrective mode. I read a post recently on Prudent Bear which talks of the DOW being in in a Primary 4. This is where it looks like we are to me as well. IMO, this is not bullish. It infers that the move from 1987 was a primary '3' and will be corrected. A 38.2% retracement is DOW 7950 or so.

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