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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (117668)	4/26/2005 10:01:13 PM
From: The Freep	Read Replies (2) of 209892

Oh, come on, Shack. It's never simple <g> The triangle could happen, but it assumes too much for me right here. A move down COULD be very bearish... but it could also be a B of 4 for all I know. What's more clear from today, I think, is that we aren't done with down. I agree that we gotta watch the move down when/if it comes and see which stocks, if any, are making new lows. I mentioned earlier that I have the bios at a potential top here, though it's gonna take some time to see if that's the case. The BTK 60 min chart over the last couple weeks could be an ending pattern of a B up, I think... to be followed by a gnarly C down. But again, lotta bios look good here. As for the lower line of this consolidation... some indices (like the SOX) clearly dropped below by the close.

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