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Strategies & Market Trends : Classic TA Workplace

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To: M3SMG who wrote (113339)2/9/2005 6:46:51 AM
From: skinowski  Read Replies (1) of 209892
 
Wave 3 starting today or tomorrow, after just a couple of day's rest, and with the implied volatility near historical lows? Why not, I suppose that's possible. That's what the larger Wave 3 did, from late October, till mid November, even though when in begun, VIX and Co. were at the opposite - high - side of their recent ranges.

Altogether, this unfolding impulse since last August has been quite energetic, going from SPX 1060 to 1218 (W3 high) in less then five months. That's a big percentage move, and most likely it's not over yet. But I suspect the Bull may need to chill a bit longer before launching into the juicy part of this fifth wave.
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