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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (48726)	8/2/2002 12:39:19 PM
From: The Freep	Read Replies (1) of 209892

Here's a little Favors excerpt I found. His stuff is copywritten, I am sure. On Sunday, July 21 we stated the following in regard to our outlook for a market low near July 23: "One of the strongest arguments for some sort of low next week comes from the wave structure. As we count it, we are in wave 3 down from the March highs of this year, and down near the end of wave 3 at that. We would look for a wave 3 low at some point next week, and then the start of the strongest rise we have seen since the May 17 highs of this year, when wave 3 down began. It would not surprise us if that rally carried the Dow back up near the 8700 area, or perhaps somewhat higher. However, the wave structure still suggests that yet another 5th wave down will likely follow into our early to mid-August target, and 5th waves down in a crash can be devastating." check him out at www.jerryfavors.com the freep

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