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Strategies & Market Trends : Harmonic Trading with The Phoenix
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To: Haim R. Branisteanu who wrote (906)8/25/2003 1:06:00 AM
From: At_The_Ask  Read Replies (1) of 941
 
I haven't been following it too closely or anything else really for the last month or so. Quick summation, I'd have to go with up. It just broke pretty much all of it's dt lines off of the top and there are a couple of different ways you can draw it but the weekly drop was diagonalish. Even though the subwaves are probably impulsive.

I'd look for 100-102 at least. Possibly 105. I have some old work I'll have to dig out and check for reference. Could be that it melts tomorrow or it could be signaling something like a bond rally, a slowdown in fed printing, and\or a stock top. I favor all three. Not based on fundies of course and without having crosschecked any other markets.
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