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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (10056)	8/15/2001 10:50:22 AM
From: Perspective	Read Replies (2) of 209892

This is getting interesting. Got hounds barking? All those falling wedgies that should have resolved upward instead morphed into leading diagonals as we've entered a wave 3 or C down. I see us having turned the corner into 3 of 3 of A down on the SPX now with the failures (with the A starting on the ~May 21 high). Dollar weakness starting to bite? Seasonals showing early? The lack of mutual fund flows is making this thing behave rather badly. Tough to keep your favorite tulips alive when cash levels are dangerously low. I also suspect that, unless the dollar pulls up shortly, something is going to break. Too many idiots in carry trades assuming the dollar can't go down. Note also that the only days we rallied were Fri-Mon, which are basically holidays in the summer. Just wanted to let you know I wasn't missing the fun. Summer's just too boring in the markets to worry about it too much. Wake me when we're retesting last week's lows. BC

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