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Strategies & Market Trends : Classic TA Workplace

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To: Jerry Olson who wrote (89545)1/19/2004 12:09:16 AM
From: SwampDogg  Read Replies (2) of 209892
 
<<this is as good as it gets...>>

Very true

The real power of E-wave in this market is to help clearly label this as a Wave 2 bear market rally. This rally will be in textbooks for decades to come as the best example of all the things that exemplify a retracement within a major bear market.

The problem is that you never know how far these can go but 50% retracements of the $SPX are fast approaching and a 50% time relationship with the first leg of the bear is coming up as well.

You very skilled at what you do but please do not extrapolate that this is something that it clearly is not.
I am stunned at how many bears have become long term bulls in the last couple weeks. The sentiment is totally wrong here for this to continue much longer.
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