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Strategies & Market Trends : Classic TA Workplace

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To: elliottrules who wrote (111441)	1/7/2005 4:19:52 PM
From: Shack	Read Replies (1) of 209892

Agreed, but after today I am far more bearish intermediate-term I have no idea to what degree we are correcting downwards here, but short-term I think many financials are f*cked. -GS, bear flag corrective in progress after a dump says more down a comin'. -MBI, massive wedge breakdown on the daily chart off the 2004 low first spotted by ski. -Not as serious but BAC broke down over the May 2004 UT line. -USB as mentioned in a previous post, ED on the dailies. -MWD another ending diagonal potentially complete at today's high off the November low. -Combine these with the potetential ending diagonals on the SPX and COMP which now looked to have been more than real. And the most telling thing, as you all may have noticed after months of successful long trades for me, my long trades based on similar bullish set-ups are failing (except SGP which has been nice)! If my game plan ain't working its time to bring in a new offensive co-ordinator before I get steamrolled by a trend change. Those financials are warning me that the time may be here.

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