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Pastimes : How to best deal with KOOKS at this web site
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To: Iceberg who wrote (585)7/1/1997 10:44:00 PM
From: Herb Fuller   of 1894
 
Ice -Gottfried , Re>> technical handle on the market <<

FWIW this is a technical report that I consider when making my decision as to where the market is going .
------------------
EWAVE UPDATE FOR JULY 1, 1997

PRIMARY COUNT: On Tuesday, we appear to have entered the 5th wave of a
Bull Impulse going higher at the MINOR degree. The target is 930-940 SPX
cash by next Monday, and then we will move into a corrective phase that
should retrace below the 880 level (but not by much). The possibility of
a 5th wave "failure" always exists, and the next 3-4 trading sessions
would indicate such a failure if no new highs are made. That sort of
failure could lead to a major correction (10%-20%), but there are no
concrete indications of such a failure at this stage. Rather, it would
seem there will be a fairly "normal" 5% correction after we achieve new
highs (probably on Monday), and then a new bullish impulse wave will
begin, taking the market to new highs.
----------

Have a Good One ,

Herb
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