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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (31201)	2/14/2002 3:52:05 PM
From: Perspective	Read Replies (3) of 209892

One other thing I don't know if you'd noticed. Pull up a plot of $SOX and $INDU side-by-side. The similarities are uncanny. The conclusion for me was that the money managers have apparently lumped SOX in with the Dow as the safe, liquid havens. LOL! Even more interesting is then comparing both of these to more speculative indicies such as COMPX or BTK. You see at the key turning points that COMPX and BTK rolled over long before the safe-haven Dow and SOX. You can even see that the Elliot patterns morph as a result. The fairly normal corrective up in SOX and the Dow is matched in time by a running correction in the weaker COMPX. If that's right, wave 3 is going to get ugly very soon. Note that, during 1932, the most violent downleg of all began right after the X wave separating the two zig-zags. We have just started that second zig-zag. Stay sold. BC

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