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Strategies & Market Trends : Classic TA Workplace
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To: bcrafty who wrote (111289)1/6/2005 2:58:36 PM
From: ajtj99  Read Replies (1) of 209892
 
Well, if we just finished an apparent e-d on the SPX and COMP, the bullish count I would favor would be the e-d was the end of wave 3 up out of the August lows.

If that's the case, wave 2 in October lasted a few weeks, so wave 4 should take a bit longer. That would make it unlikely we just finished a wave 4 down if that e-d was the end of wave 3 up.

With the incredibly high volume on this drop, it's going to take some ping pong between 1160 SPX and 1200 to punch back through the 1200 range for good, IMO.
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