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Non-Tech : Raptor's Den
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To: mansan who wrote (3586)9/19/2002 10:07:48 AM
From: mansan  Read Replies (1) of 10157
 
Now EWI has alternate count. It is still 3 of 3 but they put the possibility of another count.

<<Our labels indicate that pattern is bearish, but until the waves progress lower we cannot eliminate an alternate interpretation which considers the sell-off from September 11 as only three-waves down, wave "B" of an expanded flat. It is important that the blue-chip stock indexes hold below near-term résistance. This resistance in the S&P is 883-888, in the futures it this afternoon's high of 879 and in the Dow it's 8317-8368. While not expected, if prices push above these important resistance areas, we will have to adjust the wave count to reflect more short-term bullish potential than our preferred wave count currently allows for.>>
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