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Strategies & Market Trends : Classic TA Workplace

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To: Paul Shread who wrote (40849)	5/31/2002 12:01:25 PM
From: AllansAlias	Read Replies (3) of 209892

That level is only important to s-t scenarios. It's the bottom of a putative 1 down for the scenario that says what we are doing now is a 4. However, I also see an viable alternate where we had a small running 4 in the Dow with yesterday's low completing a 5 wave sequence. In that case, 10,070 doesn't have much significance, as we could blow thru it and still be pointed down. At this point, I favour we are pointed down. That's all. I'm gonna sit around and watch for a while. It'll tip its hand soon enough. As long as it stays under 10,150, I don't think a Dow bear need worry.

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