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Strategies & Market Trends : Classic TA Workplace

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To: the-phoenix who wrote (75298)	6/4/2003 8:11:24 PM
From: Shack	Read Replies (2) of 209892

Hmmm, I never thought we were in the 5 of C. Its really a question of channels for me phoenix. The March 31 channel has yet to be broken on on the SPX or in tech. As a result that move looks like all one wave, the '3'. One would expect a '4' wave to challenge the channel of the entire March 10th wave and that wouldn't happen until we get into the low 1500 area on the COMPX for example (depending of course how long a '4' takes as this is rising support AND assuming the '3' is done). In the case of your chart, I understand what you're saying but I don't like a more structured '2' than '4'. That is a very low odds bet. Also the Elliott channel should connect the '1' and '3' on the top line. Here's a chart I posted yesterday in case you missed it: ttrader.com

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