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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject	2/26/2003 6:49:42 AM
From: J_K	Read Replies (1) of 209892

NDX E-Wave update: wallstreet-online.de; Yesterday´s significant donwmove was not expected. The turn happened much lower at the mentioned support of 975+. Important was the fast rise from the lows and a close above the close from the day before. Therefore, again, Onischka sees no change in the general forecast (remainig upside potential to 1.040). Short Term: Onischka classifies yesterdays action as flat-correction followed by a impulsive rise (Subwave iii'). This subwave is not finished yet and should bring the NDX up to 1.015-19 (ideally 1.040). Today after a positive start the NDX should consolidate to around 995 followed by another rise to 1.015+. Central support is at 980/982. Already a strong move that leads to prices below 989 is a problem. A break of 980 will generate a clear short signal that sould bring the index down to 930. Regards, JK

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