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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (69468)	3/24/2003 1:02:00 PM
From: Henry J Costanzo	Read Replies (2) of 209892

<<What are people seeing that leads them to think it is a '4'.>> FWIW i"ve been seeing ( in all major indexes): 1. Two waves completed since Oct lows - either A-B or 1-2...(do not buy theory we are in some way still correcting off of July lows) 2. We moved in March into either a C or 3 up 3. On the 60-min, three waves completed since Mar 12, and we COULD now be in a 4....... ......IF SO, we could now be heading for retracement (on the Dow): - Of the preceding wave 4 of lesser degree - to 8131 - To just above the wave 1 high - at 7931 - Of .38FIB 1100 point advance from 3/12 - to 8099 Based on that, looking for pullback to around 8000/8150 -- maybe to support at 50 -day SMA. EDIT: Any and all more expert than I welcome to tear this apart!!

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