Harmonic Trading with The Phoenix Message Board

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Strategies & Market Trends : Harmonic Trading with The Phoenix

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To: the-phoenix who started this subject	11/20/2002 10:03:08 PM
From: the-phoenix	of 941

This is the End Game It certainly is looking clearer now that next week's turn date will be a high, which is too bad, because it portends lower prices into year-end. I will be looking for bargains in the First Quarter next year. SPX and DOW are following through on the Bearish pattern development that will give us higher prices in the short term, but likely mark a top within a week. On the SPX it may take the form of that Bearish Butterfly that could reach 950-960, but the pattern on the DOW is actually cleaner now and suggests possibly a Gartley topping out in the 8750 area. It could extend to a Butterfly and move up into the 8900-9000 area also. Obviously, the short-term position is to be long and ride this, but it will be a short ride, IMHO. I did not get long today, as I never saw a chance to get on board, after it was obvious that the 888 target was not going to be hit on the S&P. Will look for a pullback tomorrow to possibly jump on for a couple days... Phoenix

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