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Strategies & Market Trends : Classic TA Workplace

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To: velociraptor_ who wrote (31075)	2/13/2002 7:23:42 PM
From: skinowski	Read Replies (1) of 209892

Velo: Couple of questions: On your site you show that all three major indices rallied from Friday lows in wedge-like structures. Could they possibly turn out to be Leading Diagonals? Also, the decline in COMPX from January 9 high to Feb 8 low looks like it had occurred in three waves so far. It would seem that a violation of 1880-1890 area of the Jan 23 low would eliminate the likelihood of the decline becoming impulsive (by overlapping with the bottom of a potential wave 1). The analogical level on NDX would be 1500. By implication, since the decline from Jan 9 would be a 3-wave correction, the odds for resumption of the September rally (in Wave C (?)) would have to be seen as likely. If R holds, the ST odds go to the bears. JMO. Thanks. AK

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