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To: At_The_Ask who wrote (61)	2/1/2002 5:52:04 AM
From: Moominoid	Read Replies (2) of 121

I can't see a 3,3 division for the last two waves up and down. They have to be 5,3 or 3,5. So I don't like the flat story. I now favor 3,5 with the end of the 5 of C on Wednesday. Now we are completing the second wave in this series. We need to see a little down to complete the 5 waves of the triangle and then turn around and up intraday in a wave 3. Alternatively I can only really see three waves up from the bottom on Wednesday, so yesterday's action would be 4 and 5 followed by A and B. Then again we should expect to see C down at the open followed by a reversal into wave 3. On the weekly chart the recent hammers rest nicely on the 20 week moving average. We just need to move to the topside of the channel now - on NDX that is 1800 and it is now sloping upwards. By the time we get up there there will be plenty of room for further upward expansion. I'm sorry I can't see a bearish interpretation here :)

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