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Strategies & Market Trends : Classic TA Workplace

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To: Berney who wrote (51680)	8/29/2002 11:03:43 AM
From: AllansAlias	Read Replies (1) of 209892

I remind youse Elliott bears: If this correction is sharp, then it's a warning that the trend is not down. Without worrying about convoluted counts, one of the most basic tenets of Elliott, and one that does work if one takes the time to review history, is that corrections in a trend should alternate. Alternation tells us to look for the second correction in a trend to be different than the first. If we look at tech off the top, it would appear we have down/up-SHARP/down, so if we are expecting only corrective up here and then more down, then we need to see a flat (i.e., not sharp) correction. If we don't build such a correction, then it is the early warning to bears to get the hell out of the way, cause the trend is not down.

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