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Strategies & Market Trends : Classic TA Workplace
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To: AllansAlias who wrote (13361)9/13/2001 11:07:41 AM
From: velociraptor_  Read Replies (1) of 209892
 
Allan,

Of course it is a scenario that cannot be disregarded but given the status of world markets, and factors of our own economy, it is not likely. The apparant consolidation range in the DOW could easily be counted as a wave 1 decline off a 5th wave top, followed by a very complex wave 2 that has encompassed the bulk of the consolidation. The move off the May 22 top could be the start of wave 3 down with the move off the early Aug highs beginning the wave 3 of 3.

Unfortunately, hindsight is the only true method of counting in EW.
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